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Knight Vinke ups Kesa stake
KNIGHT VINKE, the activist US investor, has increased its stake in Kesa, sending shares in the electricals retailer up by 1.42 per cent yesterday.
Kesa revealed yesterday that its biggest shareholder has upped its holding by 2.2m shares, takings its stake to 107.6m shares, or 20.32 per cent.
The electricals group sold its loss-making Comet chain after pressure from Knight Vinke, which wanted it to focus on its profitable French electrical goods business Darty.
Shares in Kesa closed up 1.4 per cent at 82.2p last night.