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Moncler shares seen jumping after report of Kering interest

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By Reuters
Moncler shares seen jumping after report of Kering interest
FILE PHOTO: Models present creations from the Moncler Autumn/Winter 2018 collection during Milan Fashion Week in Milan, Italy February 20, 2018. REUTERS/Tony Gentile/File Photo   -   Copyright  Tony Gentile(Reuters)
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PARIS/MILAN (Reuters) – Shares in luxury puffer coat maker Moncler <MONC.MI> were seen jumping over 10% on Thursday, according to traders, after a report of potential interest from French conglomerate Kering <PRTP.PA>.

Shares in the Gucci owner were marginally up by 0.65% in early trading on the Paris bourse, after Bloomberg reported on Wednesday evening that the companies had held exploratory talks about a potential combination or deal. [nL4N28E3ZU]

The two firms declined to comment.

The report comes hot on the heels of LVMH’s <LVMH.PA> agreed $16 billion takeover of jeweller Tiffany <TIF.N> last month [nL8N2850UJ]

(Reporting by Sarah White; Editing by Sudip Kar-Gupta)