Swatch CEO Says Swiss Watchmaker Needs ‘Time' to Go Private
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Swatch Group AG is looking into a potential take-private of the Swiss watchmaker but it will 'take time,' according to Chief Executive Officer Nick Hayek.
'I have a big hope' the company will find someone to 'help take us private,' Hayek said at a media event Wednesday, in one of his strongest suggestions yet that the maker of Omega watches is considering delisting from the stock exchange. Shares of Swatch rose as much as 4.3% in Zurich.
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