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Lansdown bags £52m selling down Hargreaves stake

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Lansdown bags £52m selling down Hargreaves stake

Stephen Lansdown has let go of five and a half million Hargreaves Lansdown shares.

In a statement to the stockmarket it was revealed Lansdown (pictured) sold the shares on Wednesday, bringing his holding below the 19% mark to 18.97%. He retains ninety million shares.

With shares in the FTSE 100 discount broker ending trade at 960.50p, the transaction could have netted the firm's co-founder Lansdown £52.8 million.

Lansdown featured prominently in this weekend's Sunday Times Rich List, a detailed analysis of the wealthiest individuals in Britain.

According to the 2013 survey Lansdown is worth in the region of £900 million, while Peter Hargreaves, who he established the Bristol broker alongside, is worth an estimated £1.5 billion. 

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