AXA: BlackRock cuts stake to under 5%

(CercleFinance.com) - BlackRock, acting on behalf of clients and funds it managed, has informed the AMF that on 24 November it reduced its stake in AXA to below the 5% threshold of its capital, with it now holding 4.
99% of the French insurance group's capital and 4.21% of its voting rights.

The US asset manager says that these thresholds were crossed due to a sale of AXA shares - both OTC and on the market - and a reduction in the number of shares held as collateral.

The AXA share is currently down 4.5%, underperforming the CAC 40, which is also down significantly (-3.8%).


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