December 4, 2019 / 10:11 PM / 9 days ago

Gucci owner Kering holds exploratory talks to buy Moncler - Bloomberg

(Reuters) - Kering SA (PRTP.PA), the parent company of Gucci and Balenciaga, has held exploratory talks with Moncler SpA (MONC.MI) about a deal to buy the Italian apparel company, Bloomberg reported on Wednesday, citing people with knowledge of the matter.

Moncler had a market valuation of about 9.8 billion euros ($10.80 billion) as of Wednesday’s close on the Milan Stock Exchange.

The talks held were preliminary and there is no certainty it would lead to a deal, the report said.

Kering declined to comment, while Moncler did not immediately respond to Reuters request for comment.

Reporting by Praveen Paramasivam in Bengaluru; Editing by Shailesh Kuber

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