TCI Largest Royal Mail Shareholder

Oct 23 2013 | 1:13pm ET

Amidst widespread anger over the low float price of the U.K.'s Royal Mail comes word that one of the biggest beneficiaries of the privatization is The Children's Investment Fund.

The activist hedge fund is now the postal service's largest shareholder with a 5.8% stake. TCI participated in the Royal Mail's initial public offering earlier this month, which priced the company at £3.30 per share. Royal Mail shares surged on that day and last week crested the £5, leading to questions about why the float price was so low.

Hedge funds were allocated 10% of the IPO, and TCI participated. But the hedge fund bought less than 1% of Royal Mail's shares that day; it has been aggressively buying up additional shares since.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...