Activist investor ValueAct cuts Rolls-Royce stake

Rolls-Royce was under pressure on Monday after San Francisco-based activist investor ValueAct Capital Management cut its stake in the company.

ValueAct sold off just over 1.9 billion shares in the aerospace and defence firm, reducing its holding from 10.94% to 9.48%.

It remains the company's largest shareholder.

At 1110 GMT, Rolls-Royce shares were down 2.6% at 880.20p, making it the biggest faller on the FTSE 100.