By  on May 9, 2018

LONDON — Shares in Burberry Group were down 7.7 percent to 17.39 pounds in early morning trading on Wednesday after Groupe Bruxelles Lambert, the investment holding company, announced it had sold its 6.6 percent stake in the British brand.

GBL, which is owned by the Belgian billionaire Albert Frère and his family, had begun stockpiling shares in Burberry in March 2017. The company confirmed Wednesday that it had sold 27.6 million shares for approximately 498 million pounds.

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