12:29 PM EDT, 04/09/2025 (MT Newswires) -- (Updates with additional details throughout.)

Capri's (CPRI) tentative deal with Prada for the sale of Versace for about $1.40 billion is at risk of falling apart amid market instability, the Wall Street Journal reported Wednesday, citing people with knowledge of the matter.

A preliminary agreement is expected to be announced by Thursday morning; however, the Versace family have yet to approve the transaction, the report said.

The chances of deal completion remain evenly split at this stage, according to the people.

Capri, Prada and Versace did not immediately respond to requests for a comment from MT Newswires.

Shares of Capri were up about 9.1% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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