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Adidas planning to sell struggling Reebok division: German magazine

The group plans to complete the sale by March 2021, the magazine said, without citing sources

Topics
adidas | Reebok

Reuters  |  FRANKFURT/MUNICH 

reebok
Shares in Adidas jumped on the news and traded 3% higher at 1039 GMT

is planning to sell its long-struggling division, Germany's 'Manager Magazin' reported on Thursday.

The group plans to complete the sale by March 2021, the magazine said, without citing sources.

declined to comment.

Shares in jumped on the news and traded 3% higher at 1039 GMT.

Investors have repeatedly https://www.reuters.com/article/us-adidas-reebok-idUSKBN1871JH called on management to dispose of Reebok, impatient with the lack of progress to turn around the business.

Adidas bought in 2005 for $3.8 billion.

 

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First Published: Thu, October 22 2020. 17:00 IST
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