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25 days ago
Yoox Net-a-Porter shares up sharply as traders cite Alibaba interest
June 26, 2017 / 3:25 PM / 25 days ago

Yoox Net-a-Porter shares up sharply as traders cite Alibaba interest

1 Min Read

MILAN, June 26 (Reuters) - Shares in Italian online fashion retailer Yoox Net-A-Porter were up almost 8 percent on Monday as traders cited reported interest from Chinese e-commerce giant Alibaba Group.

"There are reports Alibaba is interested in buying a stake in Yoox," one of the traders said.

A report on Chinese fashion website Ladymax.cn said the Chinese conglomerate had contacted Yoox Net-a-Porter over capital cooperation, adding it did not rule out buying shares in it.

YNAP said it did not comment market speculation.

At 1517 GMT YNAP shares were up 7.9 percent.

Reporting by Maria Pia Quaglia and Stephen Jewkes

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