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Hermes increases stake in EFM

Post Office and British Telecom pension fund manager, Hermes, has increased its stake in Edinburgh Fund Managers to 29.3 per cent.

Stockmarket rules stipulate that any shareholder with more than a 30 per cent holding must make a bid for the company, fuelling speculation that Hermes is building up for a takeover of the Scottish fund manager.

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Standard Life Bank releases new mortgage

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