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Yoox Net-a-Porter Shares Jump on Alibaba Interest

Shares in Yoox Net-A-Porter were up almost 8 percent on Monday as traders cited reported interest from Chinese e-commerce giant Alibaba Group.
Net-a -Porter's Spring 2017 campaign | Source: Courtesy | Photo by Gregory Harris
By
  • Reuters

MILAN, Italy — Shares in Italian online fashion retailer Yoox Net-A-Porter were up almost 8 percent on Monday as traders cited reported interest from Chinese e-commerce giant Alibaba Group.

"There are reports Alibaba is interested in buying a stake in Yoox," one of the traders said.

A report on Chinese fashion website Ladymax.cn said the Chinese conglomerate had contacted Yoox Net-a-Porter over capital cooperation, adding it did not rule out buying shares in it.

YNAP said it did not comment market speculation.

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At 1517 GMT YNAP shares were up 7.9 percent.

By Maria Pia Quaglia and Stephen Jewkes.

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