Kinnevik: Slumps as transfers Zalando stake to shareholders
17/05/2021 08:43
** Shares in Kinnevik KINVb.ST drop around 35.5% as the
Swedish investment company transfers to shareholders its stake
in online retailer Zalando ZALG.DE urn:newsml:reuters.com:*:nFWN2MX1OO
** Kinnevik said on Feb. 17 it would distribute its 21%
stake in Zalando, worth about 55 billion Swedish crowns ($6.6
billion), to its shareholders in order to focus on younger,
unlisted companies and its core investments in online food and
digital healthcare and payments companies urn:newsml:reuters.com:*:nL1N2KN0BO
** The stock is by far the worst performer on the
pan-European STOXX 600 index .STOXX
((marta.frackowiak@thomsonreuters.com))