You are here: Home » Reuters » News
Business Standard

H&M main owner dismisses buyout rumours -

Reuters  |  STOCKHOLM 

(Reuters) - There is no truth to recent speculation that founders the family are eyeing a buyout of the retailer, Swedish online outlet on Thursday quoted main owner and as saying.

"No, there is no bearing whatsoever to those rumours," was quoted as saying at the launch in of the group's multi-brand discount marketplace Afound.

H&M's shares, which were down 1.3 percent before the news, were down 4.9 percent at 137 crowns at 1116 GMT.

The Persson family's investment vehicle has bought shares worth several billion crowns over the past few months, triggering the speculation among some investors.

(Reporting by Anna Ringstrom; editing by Jason Neely)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 14 2018. 17:20 IST