Hedge funds build 13% stake in Sky

Hedge funds now control around £3bn of Sky shares, giving them major influence over the future of the British broadcaster as it is targeted for takeover by two rivals. The Mail can reveal that hedge funds based in Mayfair, New York and Chicago now own 13 per cent of Sky’s stock as it is embroiled in bids from 21st Century Fox and US cable giant Comcast.

The hostile takeover of engineer GKN by asset strippers Melrose has thrown the role of hedge funds into the spotlight. These investors controlled 25 per cent of GKN stock and made upwards of £172m by forcing through the deal against the wishes of investors who had held stakes for much longer.

For the full story read Mail Online

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