Business Services Industry
Evening Standard, London, market report column.
Knight Ridder/Tribune Business News, September, 2004
By Tom Nicholls, Evening Standard, London Knight Ridder/Tribune Business News
Sep. 13--HOUSE OF FRASER DIVES AS KEY INVESTORS DUMP 21 percent OF STOCK: Icelandic investment group Baugur and Scottish entrepreneur Tom Hunter dumped their holdings in House of Fraser today, sending shares in the department stores group tumbling.
Dresdner sold 21 percent of the firm, or 49.2 million shares, as Baugur's 10 percent stake and Hunter's 10.9 percent holding -- through his TBH Investments -- went on the market at 113p. House of Fraser fell 91/4p to 117 3/4p.
That is good business for the shareholders, who had been linked with a possible bid for the UKpound 300 million valued group. Bauger is said to have bought in at between 70p and 75p and...
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