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Prada's banks court Richemont

Bankers for Prada have contacted Compagnie Financiere Richemont about the Swiss luxury goods group taking a stake in the fashion house, according to reports.

It is understood that banks including Intesa Sanpaolo and UniCredit would like a partner with a stake of up to 30 per cent in Prada, according to Italian newspaper La Repubblica.

The banks are believed to have received a cool reaction from Richemont, which owns brands including Cartier and Montblanc, due to the high valuation of the stake. The banks value Prada at EUR2.7bn including debt.

In June, Prada said that it had turned down approaches from private equity firms seeking a minority stake.

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