Jeronimo Martins: BlackRock cuts stake
(CercleFinance.com) - BlackRock, the world's largest asset manager, has cut its stake in Jeronimo Martins, a regulatory filing of the Portuguese retailer showed late on Thursday.
At just 1.99%, Blackrock's holding has now fallen below 2%, the company said, a threshold that was crossed on 13 May.
Jeronimo Martins yesterday reported a 44% drop in first-quarter net profit, due to the impact that the coronavirus pandemic has had on its operating costs.
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