Swatch Group boss denies plans to take company private

The chief executive officer of watchmaker Swatch Group, Nick Hayek, has denied that there are foreseeable plans to delist, despite previously expressing an interest in taking the company private.

In an interview with German news platform Bilanz, Hayek said that privatising Swatch, which is currently listed on the Swiss Exchange, “would be a nice”, yet stated that there were no plans currently in place to do so.

He explained: "We have always said it would be nice to take the company off the stock exchange, and it would be all the more tempting given the ridiculously low share prices we have seen for some time.

"In that respect, today's interview contains nothing new. Everything else is pure speculation."

Hayek’s comment comes in regards to previous reports that suggested he was on the verge of making such a move, having previously expressed the desire due to the group’s waning share price over recent years.