Icahn buys into state lenders

Kate McCann
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ACTIVIST investor Carl Icahn has acquired $50m (£30m) worth of common shares in US government-backed lenders Fannie Mae and Freddie Mac from Fairholme Funds, it has been revealed.

Icahn, who is well known for acquiring large stakes in companies and using his position to drive through change, bought 6.8m shares in Fannie Mae and 5.7m in Freddie Mac in March. Icahn may be betting on Congress’s desire to wind the companies down.