THG slumps after Goldman reportedly sells £180m worth of shares

THG, formerly The Hut Group, slumped on Monday after US investment bank Goldman Sachs reportedly cut its shareholding in the company by a third in recent days.

According to the Mail on Sunday, Goldman has sold at least £180m worth of stock, while US investment firm The Capital Group has sold more than half its stake.

French bank Credit Agricole and Germany’s Deutsche Bank have also significantly reduced their stakes, the Mail said.

E-commerce group THG floated on the London Stock Exchange just over year ago.

At 1120 BST, the shares were down 4.6% at 434.37p.