FMR doubles World Duty Free stake to 10%
FMR, the investment fund, has boosted its stake in listed Italian airport retailer World Duty Free from 5.18% to 10%, Italian language daily Milano Finanza reported. The unsourced item said that FMR had taken advantage of WDF's falling stock price to build up its stake.
The report said that FMR is now the second largest shareholder in WDF. The item added that WDF is controlled by the Benetton family, which holds a 50.1% stake in WDF.
WDF has a market cap of EUR 1.73bn.
Source Milano Finanza daily edition