Companies

Rolls-Royce activist shareholder ValueAct cuts stake to 4.5%

Credit: REUTERS/Benoit Tessier

Activist shareholder ValueAct Capital Management has cut its stake in British aero-engineer Rolls-Royce to 4.5% from 9.48%, according to a statement released to the stock market on Friday.

LONDON, April 3 (Reuters) - Activist shareholder ValueAct Capital Management has cut its stake in British aero-engineer Rolls-Royce to 4.5% from 9.48%, according to a statement released to the stock market on Friday.

Share in Rolls-Royce have more than halved in the last five weeks as the coronavirus crisis delivered an unprecedented blow to its airline customers, which have had to ground fleets and furlough staff. They were trading down 4.2% at 266.8 pence at 0922 GMT.

(Reporting by Paul Sandle; editing by Kate Holton)

((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More