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Investment manager ups stake in Old Mutual

Old Mutual Ltd. announced that clients of Allan Gray now beneficially own 10.0018% of the total issued ordinary shares of the company.

The investment manager has called on Old Mutual to develop contingency plans amid its legal dispute with former CEO Peter Moyo, CNBC Africa reported.

Allan Gray owned 9.8% of Old Mutual, according to the Aug. 16 report.