Shares in German sportswear maker Puma AG continued to soar in late afternoon trading in Frankfurt even after Italian clothing giant Benetton had denied market talk it was interested in acquiring the German group. Analysts said talk that Italian fashion group Benetton might be considering snapping up the southern German group was the only reason for the sharp price jump. Puma posted slightly disappointing results on Friday, prompting several banks to downgrade their recommendations. Benetton, however, said it was not interested.
Puma shares in demand
Shares in German sportswear maker Puma AG continued to soar in late afternoon trading in Frankfurt even after Italian clothing…
Join The Irish Times on WhatsApp and stay up to date
Sign up to the Business Today newsletter for the latest new and commentary in your inbox
Listen to Inside Business podcast for a look at business and economics from an Irish perspective