HedgeCo.Net — STARTEEPO SICAV a.s. issued a September 7 letter and presentation to Xerox Holdings’ board urging a formal strategic review of Xerox Financial Services (XFS), including options such as a joint venture, capital partnership, partial monetization, or sale. The Prague-based fund said it has increased its beneficial ownership to 7.34% in stock and options and argued XFS could be worth roughly $7.69 per share on its own methodology—more than double Xerox’s then share price for the whole company, in STARTEEPO’s estimate. Bloomberg independently covered the same letter, the 7.34% stake framing, and the call for an XFS strategic review.
An amended Schedule 13D reported František Bostl’s beneficial ownership of 9,640,000 shares (7.34%), including the fund’s 8,000,000 shares (6.09%) and call-option underlying shares, with an aggregate purchase cost of about $23.15 million. STARTEEPO said it remains supportive of Xerox’s operational turnaround and Lexmark integration but wants clearer XFS disclosure on receivables, funding, spread, credit performance, and return on equity, plus a Board-led review with independent advisers ahead of 2028 debt maturities.
This is an activist letter and 13D update, not a announced sale of XFS. Treat the 7.34% stake, the September 7 letter’s review ask, and the $7.69-per-share XFS estimate as STARTEEPO’s stated positions, corroborated on stake and ask by Bloomberg and the SEC filing summary. Do not invent Xerox’s response, a banker mandate, or a deal process. The allocator object is public-equity activism aimed at captive-finance value recognition.