Stock

Moncler repeats it won’t comment on ‘unsubstantiated rumors’ about Burberry

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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).

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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