AMWatch

Clash of giants in Nordea: Cevian founder Gardell enters home turf of Björn Wahlroos

Swedish activist investor Cevian Capital has announced a 2.3 percent holding in Nordea Bank. The move by Cevian founder Christer Gardell was promptly dubbed "the starting point of a clash of giants" by major Swedish business daily Dagens Industri.

Activist investor Christer Gardell sees an upside in Nordea.

On the last trading day before Christmas, Swedish investment firm Cevian Capital announced a 2.3 percent holding in Nordea Bank and said it expects to join Nordea Bank's nomination board.

The move by Cevian quickly became a hot topic in the Swedish business media. The Swedish business daily Dagens Industri promptly commented:

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