Italy's OTB aims for "important" acquisition, listing still a medium-term plan – chairman to paper

MILAN, May 24 (Reuters) – OTB aims for an important acquisition when the time is right and a bourse listing remains a medium-term project for the Italian fashion group, its chairman said in an interview published on Monday.

“We are not in a rush. This time I would like to carry out a significant acquisition, and when the opportunity comes along we’ll be able to seize it,” Renzo Rosso told Affari&Finanza-la Repubblica.

Rosso said OTB had not identified a brand to buy yet, but “we don’t want to aim for a lifestyle (brand) but rather high-end pret-a-porter”. He added his family would hold onto a majority of the company he founded in a possible listing.

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