Italy's Italmobiliare, the holding company of entrepreneurial family Pesenti, is not working on a transaction regarding high-street retailer OVS, a spokesman said on Tuesday.

In an emailed statement sent to Reuters, Italmobiliare denied a report by daily il Messaggero that it was studying a possible investment in the retailer.

Shares in OVS were up 4.8 percent at 0751 GMT, after having briefly touched a high of 6.48 euros in early market trade.