Moncler repeats it won't comment on 'unsubstantiated rumors' about Burberry
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FILE PHOTO: Models present creations from the Moncler Autumn/Winter 2020 collection during Milan Fashion Week in Milan, Italy February 19, 2020. REUTERS/Alessandro Garofalo/File Photo
MILAN (Reuters) - Italy's Moncler on Monday reiterated it would not comment "on unsubstantiated rumors", when asked about a Daily Mail report about a possible takeover by the luxury outerwear maker for British luxury brand Burberry.
Shares in Burberry rose 3% in early trade after the Daily Mail reported that the British label was close to being bought by Moncler. Shares in Moncler fell 2% by 0900 GMT.
Earlier this month website Miss Tweed reported that Italy's Moncler was considering a bid for the London-listed luxury goods group, which will report its first half results on Nov. 14.
(Reporting by Elisa Anzolin; Editing by Valentina Za)
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