Prada (HKG:1913) is inching closer to a purchase of Versace from Capri for up to 1.5 billion euros, Bloomberg News reported Monday, citing people familiar with the matter.
The Hong Kong-listed and Milan-based luxury fashion house is looking to finalize the deal in March as discussions are progressing and risks haven't been found after due diligence, the report said.
The timing and valuation are also subject to change and negotiations could still fall apart, according to Bloomberg.
Prada's shares closed 3% higher during Monday's trading.
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