By  on November 18, 2008

MILAN — Safilo Group SpA fell nearly 30 percent on the Milan Bourse Monday, after Deutsche Bank and Citi downgraded the stock to “sell” from “hold,” following a profit warning and the reappointment of the Italian eyewear firm’s former chief executive officer.

Safilo’s share price sank to 0.55 euros, or 69 cents,less than a quarter of its value 12 months ago.

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