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Safilo's former CEO faces probe over alleged insider trading


According to Reuters on 15 October, Italian prosecutors have ordered the "preventive seizure" of assets worth €1.3 million ($A2.03 million) from Mr Roberto Vedovotto, former chief executive of Italy-based eyewear group Safilo, as part of an investigation over alleged insider trading.

According to the seizure order, the prosecutors allege that Mr Vedovotto sold shares in Safilo several months after joining French luxury group Kering but before it was announced that Kering had decided to create its own eyewear division and end a key licensing agreement between Safilo and its subsidiary Gucci.

Mr Vedovotto, now chief executive of Kering Eyewear, did not immediately respond to an emailed request for comment. A spokeswoman at Kering Eyewear declined to comment.

Last year Safilo's shares fell 30 per cent after Kering announced on 2 September that it had decided to create its own in-house eyewear division and would end the Gucci licensing agreement with Safilo in 2016.



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