Rumours swirl of Watches of Switzerland Group sale
Watches of Switzerland Group (WOSG) has been in talks with potential buyers over the past few months, according to an exclusive report by Reuters.
The global news agency said that “three people close to the matter” are their sources for the rumour.
Two of the sources said that WOSG CEO Brian Duffy responded to the initial approaches because he believes the company is undervalued by the stock market, where its share price is half of what it was during its 2022 peak (albeit up about 55% this year).
One of the sources said that WOSG is holding out for an offer that’s “significantly more than £7.50 per share” — roughly its current price on the London Stock Exchange — as another said that no concrete offer had yet been made.
Responding to the report, WOSG told Reuters that it doesn’t respond to rumours or speculation, while Rolex — which acquired competitor Bucherer in August 2023 — also declined to comment.
The full Reuters article is HERE.
Today’s positive financial results will help with a potential sale, and the group’s share price ended Monday 7% higher than it started.
