Amplifon tumbles as pricey GN Hearing deal indicates business shift

Sonova Holding AG

16/03/2026 09:44

Updates with shares extending gains, adds European competitors' share moves

** Shares in Italy's Amplifon AMPF.MI fall more than 10% after the hearing aid maker announced the acquisition of GN Store Nord's GN.CO hearing business for 2.3 billion euros ($2.6 billion)

** The stock, trading at its lowest level since February 2017, is the biggest loser on Europe's benchmark STOXX 600 index .STOXX

** "The valuation isn't cheap and implies a significant business change for the group, which has always denied the possibility of upstream integration," an analyst who asked not to be named told Reuters

** However, the transaction represents Amplifon's first step in addressing the structural changes in the industry, the analyst adds, calling this "a necessary step for the transformation that should allow the group to have greater control over its technology"

** GN Store Nord  shares soar 36% after the announcement

** Shares of European competitors, Sonova SOON.S and Demant DEMANT.CO, are also down and among the worst performers on STOXX 600

** Including Monday's fall, Amplifon has dropped more than 30% YTD​

($1 = 0.8744 euros)

(Reporting by Mirko Miorelli in Gdansk and Giancarlo Navach in Milan)

((Mirko.miorelli@thomsonreuters.com))