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Adidas slides as traders say top investor GBL plans to sell part of stake
(Reuters) – Adidas shares fell 1.5per on Wednesday on expectations that one of the German sportswear firm’s top shareholders, Groupe Bruxelles Lambert (GBL), was preparing to sell a portion of its stake, three traders said.Belgian investment firm GBL was placing a tenth of its 7.5per holding, or 1.37 million shares, at 257.75 euros (£229.71) on the market for sale, a 1.7per discount to Tuesday’s closing price, the traders added.GBL and Adidas, whose shares hit record highs on Tuesday, were not immediately available for comment.
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Adidas slides as traders say top investor GBL plans to sell part of stake
(Reuters) – Adidas shares fell 1.5per on Wednesday on expectations that one of the German sportswear firm’s top shareholders, Groupe Bruxelles Lambert (GBL), was preparing to sell a portion of its stake, three traders said.Belgian investment firm GBL was placing...
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