NEW YORK—According to news reports first appearing in Italy’s Il Sole 24 Ore newspaper, Nicolas Berggruen, president of investment firm Berggruen Holdings—which with a 33 percent stake in Smithfield, R.I.-based FGX International (Nasdaq: FGXI) is that company's largest shareholder—claims he has sent letters to Sàfilo Group S.p.A (SFL: MI) proposing a partnership to strengthen the Italian eyewear manufacturer's balance sheet. According to these reports, Berggruen states his interest has not received a “warm response.”

"We've approached the company and sent them a couple of letters,” Berggruen reportedly told Reuters. “We are ready and happy to provide the financial strength. We haven't had, let's say, a warm response. We would be delighted to meet with the Tabacchi family and we would only do this in conjunction with management and with the Tabacchi family and with the banks."

Berggruen went on to say in the same interview, "The most logical would be a merger... FGX could really benefit from the distribution of Sàfilo in Europe and in Asia, and Sàfilo... for its mass market products could benefit from FGX's strength in the U.S." In the Reuters article, Berggruen clarified he was speaking only on behalf of his investment firm and not FGX.

Executives of FGX International, a North American manufacturer of prescription and non-prescription glasses and sunglasses, were unavailable for comment regarding these reports. As VMail reported on July 9, Sàfilo and its main shareholder, Only 3T S.p.A, the Tabacchi family holding company which owns about 40 percent of the Sàfilo Group, are continuing their discussions with two private equity companies for a possible stake in the company and a restructuring arrangement. A deal is expected by the end of July. Sàfilo and Only 3T went public with their bid to seek financial partners to inject new capital into the company in March of this year.

The day after Berggruen reported his company’s interest in Sàfilo to Il Sole 24 Ore, stock prices for the Italian eyewear manufacturer rose 20 percent.