Blackrock hikes stake in Blinkx

Oliver Smith
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INVESTMENT firm Blackrock has raised its stake in Blinkx, buying another 5.4m shares and raising its total stake to over 13 per cent, putting its weight behind the video firm.

Blinkx’s share price rose 1.3 per cent to 119.5p, following a 30 per cent drop on 30 January when a Harvard professor published a blog post questioning the firm’s business.

Blackrock manager Ralph Cox said last week: “What we have learned is they are not doing anything illegal or wrong and a lot of their historic acquisitions are no longer key parts of the business.”