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Italian regulator extends review period of Richemont's offer to buy YNAP

Compagnie Financière Richemont SA said Feb. 21 that the review period of its voluntary public tender offer to buy YOOX Net-A-Porter Group SpA, or YNAP, was suspended for up to 15 days to give the Italian securities market regulator Commissione Nazionale per le Società e la Borsa more time to evaluate YNAP's financial data.

The company said the review will now take up to 15 days longer than initially anticipated, or until March 7.

The Swiss luxury watches company on Jan. 22 announced the offer to buy all YNAP shares for up to €2.69 billion.