{"id":8849,"date":"2008-10-14T00:00:00","date_gmt":"2008-10-14T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"taylor-wimpey-slips-as-hedge-fund-sells-shares","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2008\/taylor-wimpey-slips-as-hedge-fund-sells-shares.html","title":{"rendered":"Taylor Wimpey slips as hedge fund sells shares"},"content":{"rendered":"<p>Guardian.co.uk &#8211; Housebuilder <strong>Taylor Wimpey<\/strong> has slipped more than 8% on news that Toscafund, the hedge fund run by former bank analyst Martin Hughes, has sold a chunk of shares in the business.<\/p>\n<p>Tosca, which is said to have lost about &pound;300m in the collapse of US bank Washington Mutual, held a 10.2% stake in Taylor Wimpey. But in an official filing just out, Tosca has now reduced that to below the 3% disclosable threshold.<\/p>\n<p>Taylor Wimpey is down 1.75p at 19p, but rival <strong>Redrow<\/strong>, where Tosca had a 27% stake, has climbed 6.75p to 163p. On Friday, Redrow said Bridgemere Securities had bought 14.4m shares to take its stake to 16.24%. Traders wondered whether some of these shares might have come from Tosca. <\/p>\n<p>Bridgemere is a fund set up by the Redrow founder, Stephen Morgan, and the purchase has prompted talk of a possible takeover of Redrow.<\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.guardian.co.uk\/business\/marketforceslive\/2008\/oct\/13\/taylorwimpey-hbos\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guardian.co.uk &#8211; Housebuilder Taylor Wimpey has slipped more than 8% on news that Toscafund, the hedge fund run by former bank analyst Martin Hughes, has sold a chunk of shares in the business. Tosca, which is said to have lost [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3167,1173,1084,3168,696,218,3166,1258,537,1266,439],"class_list":["post-8849","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-5p","tag-anxiety","tag-bankruptcy-filing","tag-chapel-hill","tag-cheap-mortgages","tag-citigroup","tag-martin-hughes","tag-remorse","tag-s-david","tag-showcase","tag-sumitomo"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8849"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8849\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}