(MENAFN) Hedge fund Elliott Management raised its stake in BHP Billiton to 5%, to make the top global miner quit all or part of its petroleum business.
In April, New York-based Elliott had launched its efforts, held a 1.4% economic interest in BHP's UK-listed shares, which increased that to 4.5%.
After that, Elliott said it hold 5% of BHP's UK-listed shares and a small economic interest in its Australian shares.
However, in a statement Elliott said: "Recent statements by the company give us confidence that Chairman-elect Ken MacKenzie will heed shareholders' calls to take constructive steps to enhance value for BHP and its owners."
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