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Adidas shares jump on report of bid for Reebok unit

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Shares in German sportswear firm Adidas AG jumped on Monday after the Wall Street Journal reported that an investor group that includes Jynwel Capital and funds affiliated with the Abu Dhabi government plan a US$2.2 billion bid to buy Reebok. - PHOTO: AFP

[Berlin] Shares in German sportswear firm Adidas AG jumped on Monday after the Wall Street Journal reported that an investor group that includes Jynwel Capital and funds affiliated with the Abu Dhabi government plan a US$2.2 billion bid to buy Reebok.

Jynwel Capital, a Hong Kong-based private equity investment and advisory firm run by Jho Low, and the Abu Dhabi government-affiliated funds planned to make the offer imminently in a letter to Adidas directors, the Journal reported, citing unnamed sources close to the matter.

Adidas declined to comment. REUTERS

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