Adidas shares slide as traders say top investor GBL plans to cut stake
Belgian investment firm is preparing to place 10th of its shareholding on the market for sale
12 June 2019 - 19:31
London/ Berlin — Adidas shares fell 3% on Wednesday on news that one of the German sportswear company’s top shareholders, Groupe Bruxelles Lambert (GBL), was preparing to sell a portion of its near €4bn stake, three traders said.
Belgian investment firm GBL was placing a 10th its 7.5% holding, or 1.37-million shares, at €257.75 on the market for sale, a 1.7% discount to Tuesday’s closing price, the traders added. The sale is worth €353.1m...
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