The Starboard Value activist investor target Yahoo has another activist. The Children’s Investment (TCI) fund, one of the notorious European activist hedge funds, has a stake that’s “hundreds of millions of dollars.” They’ve said that the stake is significantly larger than the 1.5% it owned at the end of 1Q.
However, the fund says that this will remain a passive stake, simply believing that shares are undervalued. Will the multi-billion auction that’s currently taking place finally yield some cash for investors? Who knows. We’ve been Yahoo bears for some time now. All I know is that Yahoo has to get sold sooner rather than later. Surviving as a standalone is not an option, especially with the sizable stake in the potential fraud Alibaba. Verizon is the leading buyer.
TCI is ran by Sir Chris Hohn, who also has a stake in Volkswagen where it’s pushing the company to up end management, then there’s its London Stock Exchange Group stake where it’s supporting the merger with Deutsche Boerse.
The technology industry has long been on the receiving end of billions of dollars in capital, but what's next for the industry? Greylock General Partner Sarah Guo joined Wall Street Journal reporter Zoe Thomas to talk about the future of tech investment. Q3 2021 hedge fund letters, conferences and more Seed Funding Thomas asked Guo Read More