Laxey turns fire on 3i Group


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The Independent Online

Laxey Partners has called on private equity firm 3i Group to speed up the return of cash from investment sales to shareholders and freeze new investments until its shares improve.

A spokeswoman for the activist investor said it was not seeking the dissolution of 3i, but the sale of current assets. The move comes a day after 3i unveiled the resignation of its veteran chief executive, Michael Queen.