Top Adidas shareholder cuts stake to 3.51% (updated)

Groep Brussel Lambert NV

29/10/2024 07:27

(Adds GBL comment)
       LONDON, Oct 29 (Reuters) - Top Adidas  ADSGn.DE 
shareholder Groupe Bruxelles Lambert  GBLB.BR  has cut its stake
in the German sportswear company to 3.51%, Adidas announced in
filings on Tuesday.
    GBL, the investment holding company for the billionaire
Frère and Desmarais families, had announced on July 31 it had
cut its stake to 5.1% from 7.6%. 
    Adidas shares had a strong run last year and are up 16%
since the start of 2024.
    "We sold some shares but reiterate our support to the
company, its management and its strategy," a GBL spokesperson
said in an emailed response to Reuters questions on Tuesday.

 (Reporting by Helen Reid and Alexander Huebner; editing by
Jason Neely)
 ((Helen.Reid@thomsonreuters.com; +44 7584 155 200 ;))