Hermes Says It’s Not Interested in Buying British Rival Mulberry
Hermes International SCA (RMS), the French maker of Birkin bags, denied it’s interested in Mulberry Group Plc after The Daily Mail reported it may bid for the British bagmaker.
“We deny completely” speculation that Paris-based Hermes is preparing an offer, Deputy Managing Director Patrick Albaladejo said today in a phone interview. “There is no such project in Hermes.”
British newspaper The Daily Mail reported that Hermes was tipped to buy Somerset, England-based Mulberry for 1.5 billion pounds ($2.3 billion), sending the shares up as much as 8.5 percent in London. After Hermes’ denial, Mulberry fell as much as 1.5 percent and was unchanged at 1,300 pence as of 11:00 a.m. The stock has gained 10.8 percent this year.
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