Swatch CEO Denies Takeover Talks With Bulgari

Nick Hayek, CEO of The Swatch Group, said recently that the company had "not expressed any desire to acquire Bulgari," according to a Reuters report. Hayek also told Reuters that Bulgari had no interest in being bought out by the Swatch Group.

According to the report, Hayek had told the German magazine Focus that Bulgari was a "potential big brand that could be developed."  The report also pointed out that Swatch would have to take on a debt of $1.3 billion to acquire the Italian jeweler.