• Barclay brothers sell InterContinental stake

The Barclay brothers have sold their 10.4% stake in the InterContinental Hotels Group for an estimated £335m. Barclays Capital is reported to have sold almost 30 million shares on behalf of Ellerman Corporation, a company controlled by David and Frederick Barclay, for £11.20 pence a piece.

The share price is slightly below the £11.50 a share the brothers are estimated to have paid in 2007. InterContinental confirmed in a statement that Ellerman no longer has a holding in the hotelier.

Wire report here: http://www.bloomberg.com/news/2010-07-27/intercontinental-hotels-plunges-as-ellerman-seeks-to-sell-its-10-holding.html

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