Traders tip Alibaba bid for Yoox Net-A-Porter
Chinese e-commerce giant Alibaba Group could be interested in buying a stake in Italian online fashion retailer Yoox Net-A-Porter (YNAP), Hong Kong stock traders say.
This has boosted YNAP’s share price by nearly 9 per cent.
Chinese fashion website Ladymax.cn says the Chinese conglomerate contacted YNAP over capital co-operation, not ruling out the buying of shares.
However, some insiders cast doubt on the report, and Reuters reports YNAP as saying it does not comment on market speculation.