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.
This Tiger Cub Giant Is Betting On Banks And Tech Stocks In The Recovery
The first two months of the third quarter were the best months for D1 Capital Partners' public portfolio since inception, that's according to a copy of the firm's August update, which ValueWalk has been able to review. Q2 2020 hedge fund letters, conferences and more According to the update, D1's public portfolio returned 20.1% gross Read More