PPR, the holding company which owns luxury group GUCCI GROUP has agreed to sell its chain of home stores Conforama for a reported EUR 1,2 billion to South African group Steinhoff International. This sale has intensified rumours in the international media that PPR might target Burberry, which has had an exceptional financial performance in the past years and is a top performer on the stock exchange. There has been no official comment from PPR but it is widely known that Burberry is likely to change ownership soon.
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