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BUZZ-Prada's HK shares jump on $1.38 billion Versace deal

Reuters
2025/04/11
BUZZ-Prada's HK shares jump on $1.38 billion Versace deal

** HK shares of Prada 1913.HK jump 7.8% to a one-week high of HK$51.6; set for steepest one-day pct rise since March 8, 2024

** Prada struck $1.38 billion deal to buy smaller rival Versace from Capri Holdings CPRI.N on Thursday in a move that unites two of the biggest names in Italian fashion and offers the prospect of enhanced revenues

** Co's Frankfurt-listed stock 1913.F jumped 13% on Thursday

** Prada CEO says Versace deal is a revenues project, not a synergies project

** YTD, HK-listed stock falls ~20%, Frankfurt shares shed ~25%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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