December 5, 2019 / 1:34 PM / 4 months ago

Moncler CEO says no concrete M&A option for now

MILAN (Reuters) - The chief executive and top shareholder of Italy’s puffer jacket maker Moncler (MONC.MI) said on Thursday there was no concrete tie-up option under consideration after a press report that France’s Kering (PRTP.PA) had held exploratory talks with the Italian group.

Remo Ruffini, who bought Moncler in 2003 and turned into one of the sector’s most successful groups, added that from time to time “he maintains contacts and interacts with investors and other sector participants, including the Kering group, in order to explore strategic potential opportunities to further promote the successful development of Moncler.”

“At the moment, however, there is not any concrete hypothesis under consideration,” he said in a statement.

Shares in Moncler were up 7% after Ruffini’s statement, having earlier soared as much as 12%.

Reporting by Claudia Cristoferi, editing by Silvia Aloisi

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