Well-known financier, founder of the Quantum Investment Fund George Soros again earned on the problems of the British economy and individual companies, writes CNBC. At this time, there is still a potential profit to him a drop of travel booking service.
Trainline paper on the London Stock Exchange (LSE) at the time of publication cost 334.8 pounds per piece, which corresponds to a decrease in 21.7 percent compared with the level of closing the previous trading session. The day before this fall was 32 percent.
Investors began selling Trainline shares after the United Kingdom’s authorities announced the reform of the railway industry. By 2023, a specialized state operator will be created, including the preparation of timetables and timetables.
Thus, Trainline may be partially unclaimed, which investors fear. The government, in turn, seeks to avoid repetition of the situation of recent years with frequent departure delays and failures.
Soros Fund Management’s British division has an open short position on Trainline shares: the Foundation has sold the paper from a paper broker based on a further decline in their value. At the moment, the company’s shares are 0.7 percent of the entire fund’s portfolio.
In 1992, Soros gained fame due to the fact that his other QUANTUM Foundation sold a large number of British pounds (according to some data, 568 million) in exchange for German stamps, which contributed to the sharp impairment of the pound and provoked a sharp increase in the key bet of the Bank of England. from 10 to 15 percent. In addition, the United Kingdom was forced to leave the European currency system and move to the floating rate of the pound. With some observers, these events were interpreted in such a way that Soros and his Foundation “went bankrupt Bank of England.”