Burberry shares spike on report of Coach merger interest
LONDON, Oct (Shenzhen: 000069.SZ - news) 21 (Reuters) - Burberry shares rose nearly 5 percent in solid volumes after financial blog Betaville said, citing sources, that rival U.S. luxury goods company Coach (HKSE: 6388.HK - news) was working with investment bank Evercore on a potential merger with Burberry.
A Burberry spokesman said the company would not comment on market rumours and speculation.
Burberry shares were up 4.5 percent by 1105 GMT, and were the best-performers on Britain's FTSE 100 blue-chip index, which was up 0.4 percent. (Reporting by Vikram Subhedar, Additional reporting by Paul Sandle; Editing by Sudip Kar-Gupta)