The French financial markets regulator AMF said Tuesday it has
been informed by MFS Investment Management in a regulatory filing
that it has lifted its shareholding in French electrical equipment
manufacturer Legrand SA (LR.FR) to 10.88%, crossing the mandatory
reporting threshhold of 10%. It didn't state the size of MFS's
previous shareholding.
MAIN FACTS:
-MFS's stake in Legrand reflects a change in the fund manager's
policy to aggregate the different holdings of its funds, as well as
to a lesser degree the purchases of Legrand share on the open
market
-MSF now controls 9.94% of Legrand's voting rights.
- MSF said it has no intention to take over Legrand and doesn't
plan to seek representation on Legrand's board.
-MSF said it will continue buying up Legrand's stock if it
considers that the shares are undervalued.
-MSF is controlled by Toronto-listed Sun Life Financial Inc
(SLF.T)
-Write to David Pearson at david.pearson@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires