May 17, 2018 / 6:01 AM / 7 months ago

YNAP to delist June 20 after Richemont reaches 94.999 pct of group

MILAN, May 17 (Reuters) - Online luxury retailer Yoox Net-a-Porter (YNAP) will be delisted from the Milan Stock Exchange on June 20 after Cartier owner Richemont reached nearly 95 percent of YNAP's ordinary shares after a takeover.

Richemont, which already owned 25 percent of YNAP, in January launched a takeover to gain full control of the retailer so as to better compete in an expanding online market for luxury goods. (Reporting by Francesca Landini Editing by Clarence Fernandez)

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