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(From Lloyds List)
Tui hedge attack
GERMANY'S Tui has reportedly come under fire again from hedge funds, anticipating a drop of the share price as a result of its recent takeover bid for CP Ships, writes Katrin Berkenkopf in Cologne.
Hedge funds speculate on falling share prices and borrow large numbers of shares from investors and sell them to the market, hoping that they will eventually be in a position to buy them back at cheaper prices. Investors charge a lending fee for the shares. A German news report cited an unnamed hedge funds manager saying that the fee for Tui shares had gone up considerably because of high demand.
An investment …