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Hedge fund Elliott buys stake in UK's Saga

Credit: REUTERS/THOMAS WHITE

Activist investor Elliott has taken a position in Britain's Saga Plc, less than a month after the specialist tourism and insurance firm warned that discounting was taking a heavy toll on its tours business.

July 17 (Reuters) - Activist investor Elliott ECAL.UL has taken a position in Britain's Saga Plc SAGAG.L, less than a month after the specialist tourism and insurance firm warned that discounting was taking a heavy toll on its tours business.

Elliott Capital Advisors disclosed a 5.141% stake in Saga as at July 12, a filing showed on Wednesday.

(Reporting by Noor Zainab Hussain in Bengaluru; editing by Patrick Graham)

((noor.hussain@thomsonreuters.com; Within UK +44 20 7542 1810; Outside UK +91 80 6749 2764; Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net))

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