Shares of Mr Price Group Ltd. rose after CEO Mark Blair defended the company's acquisition of NKD Group's retail business, addressing investor concerns about the purchase price. The South African clothing retailer's expansion into central and eastern Europe has sparked debate about whether the deal represents fair value for the German fashion chain's assets.

The acquisition comes as Mr Price seeks to grow beyond its domestic market, targeting the European retail sector's potential for expansion. Investors have questioned whether the company may have overpaid for NKD's retail operations, particularly given current market conditions and the challenges of cross-border retail integration.

Blair's public defense of the transaction suggests management remains confident in the strategic rationale despite market skepticism. The stock's positive reaction indicates some investors may be reassured by the CEO's commitment to the deal's long-term value proposition, though questions about integration costs and market performance in new territories persist.