PracticeAccounting FirmsFidelity buys 8% stake in Tenon

Fidelity buys 8% stake in Tenon

Fidelity International, a US fund manager, has bought one million share in Tenon, the UK's largest accountancy consolidator, as the shares hit a record low.

The fund manager now holds a 7,49% stake in the top ten accountancy company, with well over a million shares purchased.

The AIM-listed group’s shares have continued to fall following a profits warning last week. Revised profits for 2001 will be between Pounds 500,000 and Pounds 1m against an expected Pounds 6m.

Tenon’s share price dropped further from 85p to 75p today.

Links

Tenon shares hit new low

Related Articles

Sexual harassment – is accountancy next for #MeToo?

Accounting Firms Sexual harassment – is accountancy next for #MeToo?

17h Karen Baxter, Lewis Silkin
Johnston Carmichael CEO appointed as ICAS president

Accounting Firms Johnston Carmichael CEO appointed as ICAS president

3w Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

Accounting Firms Is the accountancy sector facing an international talent crisis?

1m Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

1m Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

2m Emma Smith, Managing Editor
BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

2m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

2m Fergus Payne, Lewis Silkin