Belgian billionaire Albert Frère acquires 3% stake in Burberry
Albert Frère has acquired 3% stake in the UK luxury firm Burberry. The Belgian billionaire, investor and turnaround specialist bought over 13m shares through his GBL Energy Sarl holding company, helping to send the shares up almost 6% at one point to 1,763p. It was their highest level in almost two years. However, they closed up 3.66% compared to the day before at 1,726p. Frère seems to have been on a luxury buying spree lately with German media reporting in Janruary 2017 that he had also bought an undisclosed stake in Hugo Boss.