Whitbread: shares jump in London as Elliott reveals stake

(CercleFinance.com) - Whitbread shares have jumped 6% on Monday after activist investor Elliott Management has taken a stake of over 6% in the hospitality company, probably aiming to push for changes at the group.


The UK's largest operator of hotels, restaurants and coffee shops' stock is currently up 6.3% at 4,182 pence in early-morning trading in London.

Elliott said over the weekend that it has notified Whitbread that it held an economic interest of over 5% in the company - as of today, Elliott currently holds an economic interest in excess of 6%.

Elliott said it believes that it is currently the largest investor in the company.

The Financial Times says the activist hedge fund is advocating for a split of the business.

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