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Czech billionaire cashes Macy’s shares after less than a month

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After Daniel Kretinsky’s firm purchased a 5 percent stake in Macy’s last month, the company said this week that its stake was down to 0.7 percent. The exit was lucrative, according to Bloomberg, which reports that Kretinsky made some USD 36 million. Vesa Equity Investment’s bet on Macy’s aligned with a 65 percent surge in the stock. The shares were reportedly sold on Tuesday.

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