United Industrial Services has built up a 4.64% stake in ailing fund manager Gartmore.
The group bought 12.65m shares in the Gartmore on 8 and 9 November, equating to 4% of the company. It has added to position in subsequent days, and now owns 14.67m shares. Gartmore's share price is languishing at about 50% lower than its IPO price, as the group struggles with the loss of star manager Guillaume Rambourg and retirement of Roger Guy.
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