(Reuters) – Kering SA <PRTP.PA>, the parent company of Gucci and Balenciaga, has held exploratory talks with Moncler SpA <MONC.MI> about a deal to buy the Italian apparel company, Bloomberg reported on Wednesday, citing people with knowledge of the matter.
Moncler had a market valuation of about 9.8 billion euros as of Wednesday’s close on the Milan Stock Exchange.
The talks held were preliminary and there is no certainty it would lead to a deal, the report https://www.bloomberg.com/news/articles/2019-12-04/kering-is-said-to-hold-exploratory-talks-on-deal-for-moncler said.
Kering declined to comment, while Moncler did not immediately respond to Reuters request for comment.
(Reporting by Praveen Paramasivam in Bengaluru; Editing by Shailesh Kuber)