LONDON (Reuters) - Swiss luxury goods group Richemont CFR.VX has bid to acquire Net-a-Porter in a deal which values the UK online fashion retailer at about 350 million pounds ($531 million), newspapers said on Sunday.
The Sunday Telegraph said a deal was expected to be announced this week, while the Sunday Times said detailed discussions were underway but a deal has not yet been agreed.
Richemont already owns a 29 percent stake in Net-a-Porter and is looking to acquire the remainder of the company from other shareholders including founder Natalie Massenet, said the papers.
Richemont declined to comment on the reports and no one was immediately available at Net-a-Porter to comment.
Reporting by Sarah Young; Editing by Greg Mahlich