Italy's OTB aims for "important" acquisition, listing still a medium-term plan - chairman to paper

  • 5/24/2021
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MILAN, May 24 (Reuters) - OTB aims for an important acquisition when the time is right and a bourse listing remains a medium-term project for the Italian fashion group, its chairman said in an interview published on Monday. “We are not in a rush. This time I would like to carry out a significant acquisition, and when the opportunity comes along we’ll be able to seize it,” Renzo Rosso told Affari&Finanza-la Repubblica. Rosso said OTB had not identified a brand to buy yet, but “we don’t want to aim for a lifestyle (brand) but rather high-end pret-a-porter”. He added his family would hold onto a majority of the company he founded in a possible listing. Reporting By Giulia Segreti, Editing by Valentina Za Our Standards: The Thomson Reuters Trust Principles.

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