Unieuro jumps after deal to buy Covercare
17/10/2023 08:37
** Shares in Italy's electronics retailer Unieuro UNIR.MI
rise as much as 7.2% after it agrees to buy Covercare for 60
million euros ($63.3 million)
** Covercare is a leader in Italy in the repair service
market of mobile phones and other portable devices
** The deal "represents the most strategically and
financially significant transaction" in the company's history,
CEO Giancarlo Nicosanti Monterastelli says
** The shares are on track for best day since March 2022
** The stock is up 6.2% by 0722 GMT, outperforming Milan's
all-share index .FTITLMS that rises 0.25%
($1 = 0.9483 euros)
(Reporting by Romolo Tosiani)
((Romolo.Tosiani@tr.com))