Moncler said to consider bid for Burberry, shares rally

4th Nov 2024 08:57

(Sharecast News) - Burberry shares shot higher on Monday after online fashion publication Miss Tweed suggested over the weekend that Italy's Moncler could be considering a bid for the luxury fashion brand.

According to Miss Tweed, several industry sources said that Bernard Arnault, chief executive and controlling shareholder of LVMH - which recently invested in Moncler - is "keen" to see such a deal happen.

At 0855 GMT, the shares were up 4.6% at 849p.

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