Richemont: gets green light for Yoox Net-a-Porter bid

(CercleFinance.com) - Italy's market regulator has cleared Richemont's plans to acquire Yoox Net-a-Porter, the Swiss luxury group said.


In a statement made late on Wednesday, Richemont said that it has received the go-ahead for the takeover bid from market regulator Consob, paving the way for a public tender offer between 19 March and 9 May.

If the conditions of the offer are met, the bid will then be reopened from 21 May until 25 May, Richemont said.

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