LONDON--The investment banking arm of UBS AG (UBSN.EB) has
increased its stake in Telecity Group PLC (TCY.LN), the U.K. data
center operator acquired by Equinix Inc. (EQIX) in May.
UBS Investment Bank, Telecity's second-largest shareholder
behind Abrams Capital Management LP, increased its shareholding
from 13 million to 15.1 million shares, or 7.4% of the stock,
Telecity said Friday. Its stake is worth around GBP164 million
($256.5 million) at Friday's closing price.
U.S. data center giant Equinix agreed to buy Telecity in a cash
and share offer worth $3.6 billion, squashing an earlier tie-up
between Telecity and Netherlands-based Interxion Holding NV (INXN).
The deal is expected to complete in the first half of 2016.
Shares in Telecity closed two pence or 0.2% higher at 1,095
pence.
Write to Ed Ballard at ed.ballard@wsj.com
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