WEST PALM BEACH, FL (www.hedgeco.net) – More hedge funds are buying into Commerzbank according to Reuters reports. Toscafund and Lansdowne Partners, both U.K. based hedge fund managers, haveaggressively acquired shared of Commerzbank.
Both banks declined to give comments about their actions. In their statement, Commerzbank acknowledged that both hedge fund managers have raised their stakes in their firm by about 2 percent each. Another investor, an Italian insurance company owns about 9.1 percent of Commerzbank.
Commerzbank’s shares have already gained about 17 percent as a result of the rumors that the French firm BNP Paribas or other firms may be interested in offering a bid for the company. Last month the firm�s shares gained strength amid rumors that France’s BNP Paribas, Royal Bank of Scotland or another rival could submit a bid.
One of the British hedge funds buying into Commerzbank was TCI. TCI was among one of the other firms that led a revolt last March against a bid by Deutsche Boerse to acquire the London�s Stock Exchange.
Paul Oranika
Contributing Writer
HedgeCo.Net
Email: paul@hedgeco.net
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