Moncler not in talks to take over Burberry, sources say
Recasts, adds share price move
By Helen Reid and Elisa Anzolin
LONDON/MILAN, Nov 11 (Reuters) -Italy's Moncler <MONC.MI>is not in talks to take over Burberry BRBY.L, four sources close to the matter said on Monday in response to areport by Britain's Mail on Sunday that a bid by Moncler was imminent.
Shares in the British luxury brand reversed course after the Reuters report, and were last down 2.2%. The stock was up more than 3% early on Monday on the back of the Mail on Sunday report, the second in a week saying Moncler was preparing a bid.
Burberry will report half year results on Thursday. New CEO Joshua Schulman is expected to announce a strategy update after the brand suffered significant sales declines.
Reporting by Helen Reid and Elisa Anzolin; Editing by Matt Scuffham
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