October 11, 2018 / 11:10 AM / 2 months ago

UPDATE 1-Pandora shares jump, traders cite talk of advisers being sought

(Adds share price, executive changes this year)

COPENHAGEN, Oct 11 (Reuters) - Shares in Danish jewellery company Pandora jumped on Thursday, with two traders citing market rumours that the company is seeking advisers to fend off a possible acquisition bid.

A more than 50 percent fall in the company’s shares since May has resulted in private equity groups including KKR & Co, Bain Capital and Carlyle reviewing a potential takeover of the company, Italian financial newspaper Il Sole 24 Ore reported last month, without citing sources.

A Pandora spokesman declined to comment.

Shares in Pandora were up 5.7 percent at 386 Danish crowns each at 1049 GMT. That compares to the 693 crowns they reached in April, and is well off a peak of 1,000 crowns attained in June 2016.

Sales at Pandora, known for its silver charm bracelets, have been hit by slowing shopping mall traffic in its key markets, a lack of new products and lower prices in China.

The firm has ousted both its chief executive and chief financial officer this year in a bid to regain investor confidence and it has not yet announced who will be the next CEO. (Reporting by Teis Jensen; writing by Jacob Gronholt-Pedersen and Stine Jacobsen; Editing by Jon Boyle)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below