Prada Hong Kong stock at 14-month low ahead of Versace deal decision

Prada SpA

07/04/2025 05:08

** Hong Kong shares of Italian luxury group Prada 1913.HK drop nearly 14% to HK$44.3, the lowest level since January 23, 2024

** Stock set for the biggest one-day pct decline since August 2021

** Prada 1913.F is set to make a decision this week about a potential takeover of smaller rival Versace, a source close to the matter said on Sunday, as the negotiations enter a final phase

** A deal to buy Versace, owned by New York-based Capri Holdings CPRI.N, would unite two of the biggest names in Italian fashion

** However, President Donald Trump's new tariffs have since sent shockwaves through global markets, adding an extra layer of complexity to the negotiations

** Hang Seng Consumption Index .HSCGSI drops 9.8%, Hang Seng Index .HSI plunges 10.6%

** Hong Kong-listed stock down 25.1% YTD

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))