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Czech billionaire buys stake in iconic U.S. department store Macy’s

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Czech billionaire Daniel Křetínský has bought a stake in Macy’s, one of the oldest U.S. department stores, taking advantage of a share price-drop spurred by uncertainty due to the coronavirus pandemic. Křetínský bought a 5 percent stake in Macy’s through Vesa Equity Investment, an investment vehicle he controls along with junior partner Patrik Tkáč, according to a regulatory filing.

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