Moncler repeats it won't comment on 'unsubstantiated rumors' about Burberry

Published 11/11/2024, 04:10 AM
Updated 11/11/2024, 04:15 AM
© Reuters. FILE PHOTO: Models present creations from the Moncler Autumn/Winter 2020 collection during Milan Fashion Week in Milan, Italy February 19, 2020. REUTERS/Alessandro Garofalo/File Photo
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MILAN (Reuters) - Italy's Moncler on Monday (NASDAQ:MNDY) 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 (LON:BRBY).

© Reuters. FILE PHOTO: Models present creations from the Moncler Autumn/Winter 2020 collection during Milan Fashion Week in Milan, Italy February 19, 2020. REUTERS/Alessandro Garofalo/File Photo

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.

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