Ryanair

British hedge fund cuts stake in Ryanair

Parvus Asset Management once held nearly €1 billion worth of the airline but has been reducing its stake in recent weeks

Hedge fund manager Edoardo Mercadante has cut his stake in Ryanair, which was once worth nearly €1 billion

Edoardo Mercadante, the owner of the British hedge fund Parvus Asset Management, has whittled down his stake in Ryanair, stock exchange filings show.

At one point, Parvus had a stake worth nearly a billion euro, which it held through financial derivatives known as equity swaps.

A pair of stock exchange announcements this month show that Parvus whittled its stake down from 5.03 per cent to 4.9 per cent on January 9, and then again from ...