Hedge fund SRM Global has increased its stake in Northern Rock to 8.5% and is now the mortgage bank'...
Hedge fund SRM Global has increased its stake in Northern Rock to 8.5% and is now the mortgage bank's biggest shareholder. SRM has bought a further 6.97m shares at around 109p apiece, taking its total stake in the mortgage lender to 35.8 million shares. Together with fellow hedge fund RAB Capital, SRM has been calling on Northern Rock to scrap its ongoing auction.
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