AMWatch

British hedge fund calls on Norwegian media group to buy back shares

Oceanwood Capital Management called on Norwegian media company Schibsted to buy back about 10 percent of its shares to help drive up its value.
Hedge fund Oceanwood Capital Management is based in London | Photo: Tolga Akmen/AFP / AFP
Hedge fund Oceanwood Capital Management is based in London | Photo: Tolga Akmen/AFP / AFP
BY BLOOMBERG / WILLIAM MATHIS & NISHANT KUMAR

Hedge fund Oceanwood Capital Management called on Norwegian media company Schibsted to buy back about 10 percent of its shares to help drive up its value.

Schibsted should be trading “significantly” above its present level, Oceanwood Chief Investment Officer Christopher Gate wrote in a July 5 letter to the Norwegian company’s board.

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