Italian luxury group Prada is set to make a decision this week about a potential takeover of smaller rival Versace, a source close to the matter said on Sunday, as the negotiations enter a final phase. A deal to buy Versace, owned by New York-based Capri Holdings, would unite two of the biggest names in Italian fashion. Italy’s Corriere della Sera newspaper reported on Sunday that a potential deal could be announced on Thursday, April 10 and the price for loss-making Versace could be reduced to 1 billion euros ($1.1 billion), one third lower than initial reports had indicated.
Yahoo! Finance: CPRI News
