BlackRock, the world's largest asset manager, has revealed it has taken an 8% stake in football club Manchester United.
The holding of 3.3m shares was revealed in a filing with the US Securities and Exchange Commission on Wednesday. The football club went public on the New York Stock Exchange in August, and its shares have taken off over the past three months, rocketing 35% to stand at its current level of $16.8. That move may have confounded the short sellers who piled into the stock shortly after its IPO: research from Data Explorers conducted last August found that over 8% of the company's stock was out on loan. The club's shares subsequently struggled to make gains in Q3 2012, but now stand 20% ...
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