Terry Smith, manager of the £15.6bn Fundsmith Equity fund, has sold his holding in Nestlé, a stock he has held since the vehicle's launch in November 2010.
Fundsmith said the sale was due to Nestlé's acquisition of the "distribution rights for certain Starbucks products". In May, it was announced Nestlé had paid Starbucks $7.1bn to sell its coffee products in...
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