Elliott Advisors has built a position in Vodafone Group [LON: VOD] and is pressing for changes at the telco provider, according to two sources familiar with the situation.
The exact size of the stake in the London-based company could not be learned but both sources said it is significant. Vodafone has a market cap of GBP 47.87bn.
The London Stock Exchange requires shareholders to disclose holdings of more than 3% of the share capital of a listed company.
Elliott Advisors – the European arm of Elliott Management – first approached the company several weeks ago, both sources said. The activist has held conversations with management and at least one representative of the board as part of its engagement, one of the sources said.
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