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TCI Joins The Yahoo Fun $YHOO

The Starboard Value activist investor target Yahoo has another activist. The Children's Investment (TCI) fund, one of the notorious European activist hedge funds, has a stake that's "hundreds of millions of dollars." They've said that the stake is significantly larger than the 1.5% it owned at the end of 1Q. 

However, the fund says that this will remain a passive stake, simply believing that shares are undervalued. Will the multi-billion auction that's currently taking place finally yield some cash for investors? Who knows. We've been Yahoo bears for some time now. All I know is that Yahoo has to get sold sooner rather than later. Surviving as a standalone is not an option, especially with the sizable stake in the potential fraud Alibaba. Verizon is the leading buyer.

TCI is ran by Sir Chris Hohn, who also has a stake in Volkswagen where it's pushing the company to up end management, then there's its London Stock Exchange Group stake where it's supporting the merger with Deutsche Boerse.