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Moncler plays down Kering takeover rumours

The chief executive of Italian luxury brand Moncler, Remo Ruffini, has dampened speculation around a takeover by Kering. 

It was reported yesterday by Bloomberg that luxury group Kering has held exploratory talks with Moncler about a potential takeover bid. 

However, Ruffini, who bought Moncler in 2003, has since said in a statement that although 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, there is not any concrete hypothesis under consideration.”

Moncler’s shares surged as much as 12% following the Bloomberg report, the biggest gain since the shares began trading about six years ago. 

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