Tech stocks dip with ASML; Unieuro rallies (Il Sole 24 Ore Radiocor) - Milan, 17 Jul - In the region's stock market dealings most sectors were lower, with tech stocks leading the losses, with Dutch semiconductor giant ASML dipping 8.10% on a downbeat third quarter sales forecast.

Reports from Bloomberg that the US is considering sharper trade restrictions for chip equipment firms exporting their technology to China also weighed on the broader chip sector.

Shares of the Italian consumer electronics and household appliance retailer Unieuro rallied 36.41% in Milan trade, on the back of a cash-and-share offer from an investment vehicle led by the French retailer Fnack Darty.

The planned acquisition would involve a public offer carried out through an investment vehicle 51% owned by Fnac Darty and 49% by Ruby Equity Investment. Unieuro shareholders turning over their stock would receive 9 euros per share and 0.10 newly issued FNAC Darty shares. Fnac Darty already own 4.4% of Unieuro.

The deal is expected to be concluded by the last quarter of 2024 and would lead to the creation of a group with over 10 billion euros in revenue and nearly 30,000 employees. Unieuro acknowledged the offer, which it said it would now evaluate.

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(RADIOCOR) 17-07-24 13:39:46 (0366) 5 NNNN