Goldman Sachs: Axa halved its share
In the space of just three months, Axa sold nearly half its stake in Goldman Sachs. According to a document quoted by U.S. stock market regulator the Financial Times, the French insurer has sold nearly 16 million shares of U.S. bank and reduced its share from 5% to 2.1%. The funds were raised to bail out financial services group.
The withdrawal of the French group came at a time when the famous Wall Street bank saw its market capitalization melt after an investigation by the U.S. court on possible fraud. In the quarter, the title of the investment bank collapsed by nearly 23%.
Other major shareholders of Goldman Sachs have also reduced their stake in the bank business loan no fax payday. BlackRock and T.Rowe Price have respectively sold 1.6 million and 4.2 million shares Goldman Sachs.
Meanwhile, Axa has reduced its stake in U.S. Bancorp and that of Barclays and acquired stakes in Wells Fargo and Bank of America.
However, the bank always seems to be supported by Warren Buffett had invested in September 2008 – is in financial crisis – some five billion dollars in bank capital. The investor would also prominent candidate for the acquisition of Direct Line, a subsidiary of British bank RBS.