Rocket Internet surges after Elliot Management takes 15% stake, complicating its plans to go private
Matthew FoxDec 30, 2020, 00:49 IST
FILE PHOTO: FILE PHOTO: Paul Singer, founder and president of Elliott Management CorpReuters
Rocket Internet surged on Tuesday after it was revealed that
activist investor Elliott Management, led by
Paul Singer, took a 15.1% stake in the German-based tech startup incubator.
The recent position by Elliott could complicate Rocket Internet s previously announced plans to delist from the exchange and go private after struggling to recreate some of its earlier successes.
Shares of Rocket Internet jumped 6% in Frankfurt, and its OTC share class surged 13%.
Rocket Internet traded higher on Tuesday after the company revealed that Elliott Management, led by Paul Singer, took a 15.1% stake in the German-based tech startup incubator.
US stocks closed at record highs on Monday as investors cheered a $900 billion stimulus package that President Donald Trump signed on Sunday. The package includes
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