1552 GMT - Richemont's termination of the deal with e-commerce company Farfetch brings a prolonged period of uncertainty, UBS analysts say in a research note. The Swiss luxury group won't complete the planned deal to divest half of its own e-commerce business YNAP in return for a minority stake in Farfetch. Richemont has struggled to make YNAP profitable and some investors might fear that YNAP could return to the company's continued operations with its heavy losses, UBS says. "However, we do not see this as a risk," UBS says, as the company has been clear on its intentions to divest YNAP. "It's a matter of time before the company announces its plan B for the online retailer," they say. Shares are down 0.7% at CHF118.90. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
December 19, 2023 10:53 ET (15:53 GMT)
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