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Technology
Carillion's Slump Yields a Windfall for Marshall Wace, BlackRock
By Nishant Kumar
July 12, 2017, 10:39 AM EDT
Short sellers betting on a slump in the shares of Carillion Plc are in line for bumper profits after concerns of writedowns and speculation about a possible forced share sale wiped out more than half of the British construction company’s market value.
Marshall Wace LLP, BlackRock Investment Management and Naya Capital Management are among at least 19 money managers betting against Carillion shares, the most for any British company, according to data based on disclosures with the U.K.’s market regulator. Their combined short interest, a bet aimed at profiting from the drop in a company’s shares, stands at $278 million. A Carillion spokesman declined to comment.
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