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FRANKFURT (dpa-AFX Broker) – The shares of the watch dealer Watches of Switzerland (The Watches of Switzerland Group) fell by up to 30 percent on Friday in London trading. The luxury watch manufacturer Rolex had previously surprisingly announced that it would take over the previously independent watch and jewelry retailer Bucherer. This was a bitter blow for Watches of Switzerland investors, as the company is the largest seller of Rolex watches in Great Britain. Most recently, the price minus was only slightly relativized to 23 percent.
The expert Jonathan Pritchard from the analysis house Peel Hunt noted in a first comment that Rolex accounts for about half of the turnover at Watches of Switzerland. In a statement on the acquisition, Watches of Switzerland said it had received assurances from Rolex management that “there would be no changes in product distribution or sales as a result of the acquisition.” Measured by the price development, investors initially believed that little./tih/mis
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