G4S deal opposed by key investor

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The Independent Online

Parvus Asset Management, a leading shareholder in G4S, has come out against the security company's £1.5bn takeover of the Danish cleaning services group ISS, calling it "an untested vision".

The hedge fund, G4S' fifth biggest shareholder, said it would vote against the deal, which would see the UK company expand into cleaning services as it seeks to bundle office-upkeep and security into a single contract. However, Parvus's Edoardo Mercadante said he was unsure whether the approach would work and is concerned about G4S absorbing a company with about 1.2 million staff.