Fund manager Invesco Perpetual, the lair of famed stock picker Neil Woodford, has increased its stake in G4S following the security company's recent share price falls.
Invesco previously had an 11.3% stake in G4S, but has revealed that on November 8th it increased its exposure from about 159m to 172m shares, equal to 12.22% of the issued share capital.
The security group's share price originally fell following the fall-out from its London Olympics staffing fiasco. Then, after staging a brief recovery, lurched down when it paid the price for embarrassing the British government, missing out on contracts to run prisons.
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Not only did G4S fail to win any new contracts in the biggest round of prison privatisations in England and Wales, but it has also lost its contract to run Britain's first private prison.
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