By and  on March 29, 2010

PARIS — Nick Hayek, chief executive officer of Swatch Group AG, the world’s largest watch maker, on Monday denied market reports the company was interested in purchasing Italian jeweler Bulgari.

Shares in Bulgari SpA rose more than 5 percent in early trading on the Milan Stock Exchange after Hayek told German weekly Focus that Bulgari was one of several large brands with strong potential for development. However, he added Swatch Group was not interested in launching any hostile takeovers.

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