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Moncler repeats it won’t comment on ‘unsubstantiated rumors’ about Burberry
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MILAN (Reuters) – Italy’s Moncler on Monday reiterated it would not comment “on unsubstantiated rumors”, when asked about a
MILAN (Reuters) – Italy’s Moncler on Monday reiterated it would not comment “on unsubstantiated rumors”, when asked about a Daily Mail report about a possible takeover by the luxury outerwear maker for British luxury brand Burberry.
Shares in Burberry rose 3% in early trade after the Daily Mail reported that the British label was close to being bought by Moncler. Shares in Moncler fell 2% by 0900 GMT.
Earlier this month website Miss Tweed reported that Italy’s Moncler was considering a bid for the London-listed luxury goods group, which will report its first half results on Nov. 14.
(Reporting by Elisa Anzolin; Editing by Valentina Za)
A takeover occurs when one company acquires control over another company, typically by purchasing a majority of its shares. This can lead to changes in management and business strategy.
Market capitalisation is the total market value of a company's outstanding shares of stock. It is calculated by multiplying the current share price by the total number of shares.
A luxury brand is a brand that is associated with high-quality products, exclusivity, and premium pricing. These brands often target affluent consumers.
A stock market is a marketplace where shares of publicly traded companies are bought and sold. It plays a crucial role in the economy by providing companies with access to capital.
A bid is an offer made by an investor to purchase a security at a specified price. In the context of takeovers, it refers to the price offered to acquire another company.
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