Loeb's Third Point Took New Stakes in T-Mobile, Hertz, BlackBerry During 4th Quarter -- Filing

By Dow Jones Business News, 
A A A
Share |


By Juliet Chung

Daniel Loeb's Third Point LLC disclosed Friday it held new stakes in T-Mobile US Inc., Hertz Global Holdings and BlackBerry Ltd. as of Dec. 31.

Third Point's T-Mobile (TMUS) stake of 7.6 million shares was worth $257 million at the end of last year, according to the quarterly securities filing. In Third Point's year-end letter, the firm wrote that T-Mobile was priced at a discount to its peer companies and "is strategically interesting for Sprint and potentially DISH."

Third Point bought into T-Mobile during its secondary offering of stock, the letter said.

Third Point held six million shares of Hertz (HTZ), valued at about $172 million as of Dec. 31, and 10 million BlackBerry (BBRY, BB.T) shares worth about $74 million at the end of the year.

The hedge-fund more than doubled its stake in Nokia Corp. (NOK, NOK1V.HE) to 4.5 million shares, from 2 million the previous quarter, while halving its Yahoo Inc. (YHOO) stake, to 8 million shares.

Write to Juliet Chung at juliet.chung@wsj.com

Order free Annual Report for Crown Holdings, Inc.

Visit http://djnewswires.ar.wilink.com/?link=CCK or call 1-888-301-0513

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


  (END) Dow Jones Newswires
  02-14-141805ET
  Copyright (c) 2014 Dow Jones & Company, Inc.


This article appears in: News Headlines

Referenced Stocks: ABT , AGN , BBRY , CCK , DIS

Dow Jones Business News


More from Dow Jones Business News:

Related Videos

Stocks

Referenced

Most Active by Volume

143,978,408
  • $16.105 ▼ 1.74%
73,201,644
  • $59.625 ▲ 0.91%
54,276,480
  • $36.43 ▲ 6.49%
45,923,000
  • $26.86 ▲ 0.34%
43,942,060
  • $3.155 ▲ 2.10%
36,211,803
  • $86.06 ▲ 1.19%
33,509,083
  • $13.39 ▲ 2.61%
26,528,023
  • $26 ▲ 0.70%
As of 4/16/2014, 03:49 PM