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Burberry Surges as Belgian Investor Albert Frere Buys 3 Pct Stake

The shares were up as much as 5.9 percent in London on Tuesday afternoon, to the highest since May 2015.
Burberry store | Source: Shutterstock
By
  • Bloomberg

LONDON, United Kingdom — UK trenchcoat maker Burberry Group Plc surged after Belgian investor Albert Frere reported buying a 3 percent stake in the company.

The shares were up as much as 5.9 percent in London on Tuesday afternoon, to the highest since May 2015.

Burberry is the second luxury-goods company Frere has reportedly taken an interest in over the last few weeks. Frere, a former chairman of Groupe Bruxelles Lambert, acquired an undisclosed stake in Hugo Boss AG of Germany, Manager Magazin reported. Frere is a business partner of the Marzotto family of Italy, a shareholder in Hugo Boss.

By Eric Pfanner; editor: Paul Jarvis.

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