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STOCKS NEWS EUROPE-Voegele plummets, no comment from stakeholder Migros
2013年7月4日 / 上午11点08分 / 4 年前

STOCKS NEWS EUROPE-Voegele plummets, no comment from stakeholder Migros

Shares in Swiss clothing retailer Charles Voegele slide to an all-time low, with traders citing speculation that the company’s biggest shareholder, supermarket chain Migros, may be selling all or part of its 25 percent stake.

Shares drop 15.7 percent to 7.2 Swiss francs at 1048 GMT, after hitting an all-time low of 7.0 francs earlier in the session.

Migros declined to comment and Voegele, which had a net loss of 109 million Swiss francs ($114.86 million) in 2012, said it had no explantion for the recent weakness in its share price.

Traders said the decline could be due to a big shareholder, possibly Migros, selling shares. They also said Voegele could have to do further writedowns linked to its withdrawal from eastern Europe or might have to raise capital or renegotiate credit facilities with banks.

($1 = 0.9490 Swiss francs)

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