US investment firm increases stake in Paddy Power

US asset management giant MFS Investment Management has built up a 6.5 per cent stake in Paddy Power and is now one of the principal shareholders in the company, according to filings to the Irish stock exchange.

12th January, 2014

US asset management giant MFS Investment Management has built up a 6.5 per cent stake in Paddy Power and is now one of the principal shareholders in the company, according to filings to the Irish stock exchange.

The Boston-based investment firm, which has more than 400 billion in assets under management, now owns Paddy Power shares worth in the region of €200 million after increasing its holding in the betting company from 2,537,955 shares to 3,196,693 last week.

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