Trian Fund Management, a US hedge fund with a reputation as an activist investor, has accumulated around 20 million shares in Philadelphia-based cable giant Comcast Corp for USD900 million, the Wall Street Journal reports, citing a person familiar with the matter. Comcast’s market value is understood to be in the region of USD200 billion, meaning Trian’s stake equates to less than 0.5% of the company’s total shareholding.
A spokesperson commented: ‘Trian believes Comcast’s stock is undervalued. We have recently begun what we believe are constructive discussions with Comcast’s management team and look forward to continuing those discussions.’