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Burberry shares spike on report of Coach merger interest

Reuters
A detail of a handbag is seen at a Burberry store in central London, Britain, July 15, 2015. REUTERS/Toby Melville/File Photo

LONDON (Reuters) - Burberry shares (BRBY.L) rose nearly 5 percent in solid volumes after financial blog Betaville said, citing sources, that rival U.S. luxury goods company Coach (COH.N) was working with investment bank Evercore on a potential merger with Burberry.

A Burberry spokesman said the company would not comment on market rumours and speculation.

Burberry shares were up 4.5 percent by 1105 GMT, and were the best-performers on Britain's FTSE 100 blue-chip index (.FTSE), which was up 0.4 percent.

(Reporting by Vikram Subhedar, Additional reporting by Paul Sandle; Editing by Sudip Kar-Gupta)