By  on September 4, 2014

MILAN — Safilo Group SpA lost more than 25 percent of its market capitalization on Wednesday, a day after luxury group Kering revealed plans to take back control of its eyewear business.

Safilo shares dropped 25.76 percent on the Milan Stock Exchange to close at 11.90 euros, or $15.61 at current exchange. At one point on Wednesday, trading in Safilo’s shares was suspended, and, by 11:30 a.m., they had slumped 30.6 percent, to 11.12 euros, or $14.59.

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