Tiger Brokers

BUZZ-Prada Hong Kong stock at 14-month low ahead of Versace deal decision

Reuters
Apr 07, 2025
BUZZ-Prada Hong Kong stock at 14-month low ahead of Versace deal decision

** Hong Kong shares of Italian luxury group Prada 1913.HK drop nearly 14% to HK$44.3, the lowest level since January 23, 2024

** Stock set for the biggest one-day pct decline since August 2021

** Prada 1913.F is set to make a decision this week about a potential takeover of smaller rival Versace, a source close to the matter said on Sunday, as the negotiations enter a final phase

** A deal to buy Versace, owned by New York-based Capri Holdings CPRI.N, would unite two of the biggest names in Italian fashion

** However, President Donald Trump's new tariffs have since sent shockwaves through global markets, adding an extra layer of complexity to the negotiations

** Hang Seng Consumption Index .HSCGSI drops 9.8%, Hang Seng Index .HSI plunges 10.6%

** Hong Kong-listed stock down 25.1% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10