Benetton is about to say goodbye to Piazza Affari. Edition Ltd, which controls 67% of the Veneto group, announced that it is “currently studying the launch of a takeover bid concerning the shares of the company not yet owned by Edizione srl, aimed at the delisting. The competent bodies to take the decision to launch the takeover bid will meet tomorrow”. Today, however, the board meets to discuss preliminary results for 2011.
This morning Benetton stock was suspended in Piazza Affari pending a release. The shares had come to gain more than 9%. The rise was related to rumors of a possible alliance between the Italian group and Inditex, the Spanish holding that controls the Zara brand. However, a Benetton spokesman denied the rumors.
In the last year, the group lost 28,59% of its value on the stock market. The performance improves if we restrict the period under analysis: in the six months the red is still over 23 points, while in the last month there was a recovery of 25,37%. To date, Benetton shares are traded at 4,05 euros and the total value of the capitalization is 641.203.332 euro.
