1st Jul 2014 06:00
LONDON (Alliance News) - Asset manager Fidelity Worldwide Investment's US arm FMR LLC Monday doubled its stake in Quindell PLC, according to a report in The Financial Times.
The move - which makes Fidelity the second-biggest investor in the company after founder Robert Terry - comes as investors and short sellers debate whether Quindell represents a revolutionary new model for the insurance industry, or an overhyped start-up that exposes the risks of London?s junior stock market, said The Financial Times.
The asset manager has been increasing its stake since the beginning of the year, reported the newspaper.
Last month the company failed to attain a premium listing on the London Stock Exchange, because it hadn't fulfilled all of the conditions for making the step up from AIM.
http://www.ft.com/cms/s/0/050785e6-0060-11e4-8aaf-00144feab7de.html#axzz36C3IwZ3v
By Alice Attwood; [email protected]; @AliceAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Quindell