Burberry shares jump 7% following Moncler takeover reports

Burberry shares jumped more than 7% yesterday morning following reports that Italian competitor Moncler is mulling a bid for the luxury retailer.
The rise came after website Miss Tweed reported the rival was looking into a potential takeover of Burberry to create an outdoor clothing specialist giant.
However, Moncler told The Guardian that it did not comment on “unsubstantiated rumours”. Related StoryWatch: Debenhams launches star-studded 2024 festive campaign01/11/2024 x 1:27 PMIt c