Capri Holdings' (CPRI) Versace brand is being considered as a possible acquisition by Italian luxury retailer Prada, the Italian newspaper Il Sole 24 reported Friday, citing unnamed sources.
US bank Citigroup (C) is serving as an adviser to Prada, a Google translation of the report said.
Capri is considering the sale of both its Versace and Jimmy Choo brands, the report said.
In addition to Prada, other fashion conglomerates and private equity firms are eyeing Versace, the report said.
Capri and Prada did not immediately reply to MT Newswires' requests for comment.
Shares of Capri Holdings were nearly 5% higher in premarket trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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