Friday, June 15, 2007

The Children's Investment Fund: Reuters' investment

LONDON-BASED hedge fund The Children’s Investment Trust (TCI) has quietly bought a 1.4% stake in Reuters, the financial-information giant that is in the middle of an £8.7 billion takeover by Canadian rival Thomson.

The activist manager bought 3.4m shares in Reuters last week through contracts for difference (CFDs), taking its total stake to 17m shares, according to a regulatory filing. CFDs are financial instruments that give a buyer a stake in a company, but no voting rights.

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