Mercury Asset Management has sold a significant stake in MAI, which announced a £3bn merger with United News and Media on Thursday. MAM sold a 2 per cent stake for £25m on Friday, retaining a 6.25 per cent share in the company, and yesterday sold an additional 870,000 shares. This reduces the group’s holding in MAI to 5.98 per cent.
The sale is an indication that MAM does not believe it likely that any organisation, in particular Carlton Communications, would try and take over MAI.
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