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Yoox Net-a-Porter shares jump as traders cite Alibaba interest

Reuters
Yoox Net-A-Porter Group placard is seen in Bologna, Italy, March 1, 2016. REUTERS/Stefano Rellandini

MILAN (Reuters) - Shares in Italian online fashion retailer Yoox Net-A-Porter closed up almost 9 percent on Monday as traders cited reported interest from Chinese e-commerce giant Alibaba Group.

"There are reports Alibaba is interested in buying a stake in Yoox," one of the traders said.

A report on Chinese fashion website Ladymax.cn said the Chinese conglomerate had contacted Yoox Net-a-Porter over capital cooperation, adding it did not rule out buying shares.

But a source familiar with the matter later denied the report. "It's not true," the source said.

Contacted by Reuters, YNAP said it did not comment on market speculation.

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Shares in Yoox Net-A-Porter closed on Monday up 8.7 percent while the Italian all-share index (.FTITLMS) ended 0.75 percent higher.

(Reporting by Maria Pia Quaglia and Stephen Jewkes; editing by Mark Heinrich)