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WaMu, Sovereign get British hedge fund investment

Reuters – An activist British hedge fund has taken a 6 percent stake in Washington Mutual Inc as the largest U.S. savings and loan tries to rebound from billions of dollars of mortgage-related losses.

The London-based fund, Toscafund Asset Management, also reported a 5.1 percent stake in Sovereign Bancorp Inc, the second-largest U.S. thrift.

Toscafund revealed the passive stakes in separate filings Thursday with the U.S. Securities and Exchange Commission.

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