Folli Follie confirms ‘new cooperations’

By Doug Newhouse |

Hellenic Duty Free Shops (HDFS) parent Folli Follie says ‘negotiations and discussions’ on the future of HDFS are ‘underway’ but without any agreement so far.













In yesterday’s second written reply to letters seeking clarification from the Hellenic Capital Markets Commission (HCMC) following local Greek press rumours, Folli Follie said:


“In response to the letter sent by the Hellenic Capital Markets Commission under protocol number 3656/19.9.2012, in view of a publication in the electronic newspaper ‘Euro2day’ of Wednesday 19th September, 2012 under ‘Folli Follie: the dessous for the sale of HDFS,’ the Company announces that it insists in its previous announcement to the public of September 10, 2012 – and wishes to repeat – that the negotiations and discussions in relation to the business unit of Duty Free Shops are under way without, however, any agreement being reached so far between the parties.


[Above: Hellenic Duty Free shops store above]


“The Company wishes to clarify that the publications of the last days are also partial vis-à-vis its business strategy and may harm the negotiation process which is under way.”



In its previous letter to the HCMC (under protocol number 3467/10.9.2012) Folli Follie said little more, other than to refer to the sources for the story and that discussions are taking place. That statement reads as follows: “In response to the letter sent by the Hellenic Capital Markets Commission under protocol number 3467/10.9.2012, in view of a publication of the newspaper ‘AKSIA’ of Saturday 8th – Sunday 9th of September 2012 under ‘Folli Follie Group: HDFS to be sold’, the Company announces that in the context of its on going pursuit for new co operations, new ways of development of its activities are examined.


“For this purpose, the Company is already in discussions and negotiations for the purposes of reaching an agreement with respect to its activities, as the business unit of duty free shops. The progress of the negotiations is smooth, but no agreement has been reached as of today.”


“In support of the above, the Company wishes to make clear that other articles that have been recently published contain financial and other details that do not correspond to reality and the discussions made so far. As stated in numerous occasions in the past, in the event of reaching an agreement, the Company shall proceed to official announcements according to the law.”


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