Moncler Comments on Burberry Takeover Rumors

MILAN (Reuters) – Italy's Moncler on Monday (NASDAQ:MNDY) reiterated it would not comment "on unsubstantiated rumors" when asked about a Daily Mail report regarding a possible takeover of the British luxury brand Burberry (LON:BRBY).

Shares in Burberry rose 3% in early trade after the Daily Mail reported that the British label was close to being acquired by Moncler. Conversely, shares in Moncler fell 2% by 0900 GMT.

Earlier this month, the website Miss Tweed reported that Italy's Moncler was considering a bid for the London-listed luxury goods group, which is set to report its first half results on Nov. 14.