Puma surges after media report investors preparing for takeover

(Reuters) -Shares in Puma jumped 10% on Wednesday, with traders pointing to a media report that parties involved were preparing for a potential takeover of the German sportswear maker.

Germany’s Manager Magazin reported that two investors were ready to take the 29% stake held by the French billionaire Pinault family, paving the way for a potential takeover.

Puma declined to comment on the report, while a spokesperson for Artemis, the Pinault family’s holding that controls Gucci-owner Kering, did not immediately reply to a request for comment.

The stock was the biggest gainer on Europe’s STOXX 600 index.

(Reporting by Linda Pasquini, additional reporting by Danilo Masoni, Siddarth S, Anika Ross and Tassilo Hummel; Editing by Kevin Liffey)