January 13, 2007

TCI Reduces Stake in Euronext

-- Pushpa Sathish, Staff Writer

British hedge fund The Children’s Investment Fund (TCI) has sold a substantial part of its shares in the European exchange operator Euronext, reports the French market monitoring firm AMF. Even as TCI refused to comment, the gossip mill is rife with rumors that the move has something to do with the fact that plans are afoot for the merger of Euronext and the New York Stock Exchange (NYSE) to form the first transatlantic trading house. Apparently, TCI was in favor of Euronext tying up with its German equivalent, Deutsche Boerse.

Following the divestment of four blocks of shares by Witchfield Holdings, a subsidiary of TCI, shares of Euronext decreased by 1 percent. A further decrease is expected as the hedge fund prepares to shed more of its stake in the exchange operator. TCI is currently the second-largest shareholder in Euronext, next only to Atticus, the New York-based hedge fund.

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dear pushpa could you reach moderator of hedge fund blog at www.prmia.org... prmia is interested in hiring your services... thanks a

Posted by: prmia org | Jan 24, 2007 12:15:54 AM

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