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The Guardian - UK
The Guardian - UK
Business
Nick Fletcher

Taylor optimism helps Berkeley despite Saad share sale

Back with the housebuilders for a moment, and despite another share sale by the troubled Saudi group Saad, Berkeley has climbed 5p to 759.5p.

The company has been lifted along with the rest of the sector by Taylor Wimpey's upbeat trading statement. But after selling 16.1m shares in the company earlier this month, Saad - which has had its bank accounts frozen by the Saudi central bank - has cut its stake further. It sold around 6.7m million shares in two tranches on 10 June and 17 June, reducing its shareholding from 13.8% to 8.7%.

Investors must be wondering whether the rest of the stake is now also up for grabs.

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