Safilo up 7% after report of vanishing interest for Marcolin
27/06/2024 10:18
June 27 (Reuters) - ** Shares at Safilo SFLG.MI are up
around 7% after MF daily reported that the main shareholder of
Italian eyewear maker broke off talks for the potential
acquisition of rival Marcolin.
** Private equity firm PAI Partners aims for a valuation of
1.3 billion euros for Marcolin and Safilo's shareholder Hal
Investments considers the price too high, the newspaper
reported. Safilo had a market capitalisation of around 420
million euros at Wednesday closure
** Marcolin and Safilo declined to comment. Hal Investments
was not immediately available for a comment
** "The news confirms our idea that the integration with
Marcolin would have an industrial sense but the significant gap
in the valuation of the two players would constitute an obstacle
to discussions", analysts at Intesa Sanpaolo said
** Shares at Safilo are up 7.13% around 0900 GMT
(Reporting by Elisa Anzolin, editing by Francesca Piscioneri)
((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))