Prada Hong Kong stock at 14-month low ahead of Versace deal decision

Hong Kong shares of Italian luxury group Prada 1913.HK drop nearly 14% to HK$44.3, the lowest level since January 23, 2024

Stock set for the biggest one-day pct decline since August 2021

Prada 1913.F is set to make a decision this week about a potential takeover of smaller rival Versace, a source close to the matter said on Sunday, as the negotiations enter a final phase

A deal to buy Versace, owned by New York-based Capri Holdings CPRI.N, would unite two of the biggest names in Italian fashion

However, President Donald Trump's new tariffs have since sent shockwaves through global markets, adding an extra layer of complexity to the negotiations

Hang Seng Consumption Index .HSCGSI drops 9.8%, Hang Seng Index .HSI plunges 10.6%

Hong Kong-listed stock down 25.1% YTD