Norway’s central bank has raised its stake in West End landlord Shaftesbury to almost a quarter as its battle with rival shareholder Sammy Tak Lee to dominate central London’s retail property intensifies.
Norges Bank has picked up an extra 4m shares in the company, worth around £35m, taking its total stake to 24.5%, not far below the 26.5% controlled by Mr Tak Lee.
The two parties have been ramping up their holdings in Shaftesbury, which owns swathes of Soho and Covent Garden, as they seek to tighten their respective grips on some of the country most high-profile high streets.
