U.S. and European activist investors are targeting some of the U.K.’s biggest publicly traded companies, taking advantage of slumping stock prices to push for company breakups and other changes.
In the latest example, Europe’s Cevian Capital has taken an undisclosed stake in
according to a person familiar with the matter. The activist investor wants the $47.6 billion U.K.-based telecom operator to consider refreshing its board with new directors who have telecom experience. It is also pushing the company to consider acquisitions to consolidate the mobile sector in the U.K. and elsewhere in Europe.
The flurry of activity shows how the U.K. market is particularly ripe for activist campaigns. With a total market value of around $2.7 trillion, the London Stock Exchange’s…
