Gannett's Largest Shareholder Liquidates Nearly All Shares
At the end of 2008, international insurance company AXA S.A. was the single-largest institutional holder of Gannett Co. stock with nearly 31 million shares, a 13.37 percent stake. Monday, it disclosed that it has sold nearly all of its holdings.
In a filing with the U.S. Securities and Exchange Commission (SEC), AXA said it owns just 952,828 shares of Gannett, chiefly through its AllianceBernstein subsidiary. The filing did not calculate the percentage of shares outstanding AXA owns, but noted that it was below the 5 percent reporting level.
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