Is the tide turning for Odey the Brexiteer? - part 29

Wednesday, 20 December 2017, 7:44 pm

Crispin Odey's firm yesterday sold around 192,000 Sky shares, according to Bloomberg data. That's probably not a clever thing to do, say rival hedgies, if your trying to argue 21st Century Fox should make a higher offer, which is what the old buffer was doing on the record earlier this week by handing out quotes to Reuters and the Evening Standard with the argument that FTSE 100-listed Sky should be sold for 12 times cashflow or £12.30 a share (see the links below).

https://uk.reuters.com/article/uk-sky-m-a-fox-odey/odey-adds-to-sky-disquiet-following-disneys-deal-with-fox-idUKKBN1EC1QZ

http://www.thisismoney.co.uk/money/markets/article-5192065/Sky-shareholders-claim-broadcaster-undervalued.html

Then again, the charming hedgie - who was once married to Rupert Murdoch's daughter - has around 0.9 pc Sky (and most likely constitutes a rather large chunk of his dwindling Odey European Fund). So, perhaps yesterday's share sale was just a bit of "trading around the edges"...?..

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