Another large shareholder in Foxtons has called on the London-listed estate agent and broker to carry out a "strategic review".
Milkwood Capital, which owns just under 4pc of Foxtons, is the latest fund to urge the company's board to start a sale process...
Another activist is trying to persuade London-listed estate agency Foxtons to sell itself.
According to a report in the Financial Times, Montreal-based Converium Capital has built up a stake of 2pc in Foxtons and is arguing the company should find a buyer after failing to take advantage of a red hot London property market. Below is a link to the piece in the FT:..
Three years ago Betaville was ruminating on what a shocking investment Foxtons had been since it floated on the LSE in 2013 at 230p.
Back then the estate agent's stock had fallen to 57p amid a malaise in the London property market post the dreaded Brexit and just couldn't ever seem to break out from that level. Below are the links below to those past articles:..
The Times is now reporting that Hosking Partners, run by veteran stock market investor Jeremy Hosking, is now demanding a "radical" shake up within the board of Foxtons. Below is the link:
https://www.thetimes.co.uk/article/investor-calls-for-shake-up-at-foxtons-rm0ghcv29..
There was one story that caught my eye in the British Sunday newspapers' business sections yesterday - The Sunday Times excellent scoop on Foxtons, the London-listed estate agency that it is reviled by home buyers and investors...
Catalist Partners, the activist property investor, is rumoured to be looking at Foxtons, the UK-listed estate agent.
People following the situation have heard rumours Catalist was the firm examining Foxtons back when the original takeover rumours were first on Betaville Intelligence in February...
Last month Betaville asked how much lower can Foxtons stock go after the shares hit an all time low of 57p.
Well, a lot lower it would seem: the estate agency's shares flirted with 47p today!
And sentiment could be about to get even worse in the London property market. Click on the link below tonight's FT piece:
https://www.ft.com/content/99072e92-8a6b-11e8-bf9e-8771d5404543..
Foxtons came to the market in 2013 at 230p courtesy of BC Partners, the private equity firm.
But it now languishes at around 57p thanks to stamp duty changes, affordability of London homes and, yes, the dreaded Brexit.
How much lower can it go.....