Kors to buy Versace

(ANSA) - Rome, September 24 - US fashion group Michael Kors Holdings has reached a deal to buy iconic Italian fashion house Versace, sources said Monday.
    The deal will be announced later Monday or on Tuesday, the sources said.
    Kors stock fell 7% in New York on news of the acquisition. Milan daily Corriere della Sera said earlier Monday the Versace sale could be announced soon.
    The report said the fashion house could be valued at two billion dollars, indicating as potential buyers either Kors or Jeweler Tiffany & Co.
    The paper added that Donatella Versace, sister of late founder Gianni who works in the company as its artistic director and vice-president, could make an announcement in the coming days, possibly as early as Tuesday.