Chicago fund takes €1 billion bet on Ryanair as it plays long game
A multibillion-dollar Chicago mutual fund has spent more than €1 billion over the past nine months building up an 8 per cent stake in under-fire airline Ryanair, stock exchange filings show.
Harris Associates, which manages about $141 billion in assets, is known for taking long-only positions on shares, meaning the firm is taking a bet that the airline’s shares are set to rise.
Stock exchange filings show that last week the firm bought €111.7 million – or...
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