Capri climbs after report Prada close to sealing $1.4 billion deal for Versace

Shares of Versace parent Capri Holding CPRI.N jump 8.2% to $13.36

Italian luxury group Prada's 1913.F deal to buy Versace from Capri for $1.4 bln could be announced as soon as Thursday, the Financial Times reports, citing people familiar with the matter

Transaction price for the buyout was negotiated down by more than $200 mln due to impact of U.S. President Donald Trump's trade war, report adds

Prada and Capri did not immediately respond to Reuters' requests for comment

Earlier, Capri's shares were halted after the Wall Street Journal reported that the deal talks were at risk of collapsing due to market turmoil sparked by the tariffs

Capri's shares are down about 40% so far this year, as of last close