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Swatch CEO signals interest in Bulgari -magazine
March 28, 2010 / 1:15 PM / 7 years ago

Swatch CEO signals interest in Bulgari -magazine

FRANKFURT, March 28 (Reuters) - Swatch Group UHR.VX, the world’s largest watch maker, has signalled interest in Italy’s luxury watchmaker Bulgari BULG.MI, a German magazine reported, citing an interview with the company’s chief executive.

“I do not deny that there are interesting big brands that have potential to develop,” Nick Hayek was quoted as saying in Focus magazine, adding that Bulgari was “an example”, according to a pre-release of an article ahead of its publication on Monday.

However, Hayek said the company would not embark on takeover battles.

“That would only tie up management. I am not a shark. That is not our culture. We want to build up companies, not buy them out,” he was quoted as saying.

Swatch Group is aiming for full-year sales of more than 6 billion Swiss francs ($5.6 billion) after seeing a 30 percent sales jump in January and February, its chairman said in an interview earlier in March. [ID:nLDE62I09O] (Reporting by Christoph Steitz, editing by Will Waterman) ($1=1.071 Swiss Franc)

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