PPR makes eyes at Bulgari
Following its divestment of Le Printemps last month, French luxury goods company PPR is said to be sniffing around Italian jeweller and fragrance house Bvlgari as a possible target for acquisition.
Although both companies declined to comment on the rumours, shares in Bvlgari jumped 3.4% in the wake of the speculation.
Several commentators claim that Bvlgari's estimated purchase price of t4-5bn would make it off-limits for PPR. However, others countered that PPR may be willing to generate funds by selling other assets. LVMH is also said to be interested in the company.
Bvlgari, a family-owned company, has so far remained resistant to acquisition.