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HEALTHCARE: Philips (PHIANA: Baa1/BBB+ neg): Exor Increase Stake

HEALTHCARE

Philips equity is rallying today (+2.4%)  as Exor's 13D filings showed an increased stake from 16.1% to 17.51%

  • Not a credit mover, as such, but certainly a vote of confidence.
  • Exor had done their legal due diligence and invested in Philips before the success in settling the sleep apnoea case.  
  • They clearly still believe in the turn-around story.

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