By
Reuters
Published
Oct 9, 2013
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Yoox says not in talks with Richemont for merger with Net-à-Porter

By
Reuters
Published
Oct 9, 2013

MILAN, Italy - Italian online fashion retailer Yoox denied on Wednesday it was in talks with Swiss luxury goods group Richemont over a possible all-paper merger with competitor Net-a-Porter.

Amber Valetta for YOOXYGEN

Italian newspaper Il Sole 24 Ore reported earlier Wednesday the two companies had held talks, and that they would likely resume them as soon as valuation hurdles were overcome.

Shares in Yoox erased earlier gains and turned negative after the company statement.

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