Pershing Square picks up put options in MBIA, Ambac
Feb 14 (Reuters) - Billionaire investor William Ackman's hedge fund Pershing Square Capital Management reported new put option positions in shares of bond insurers MBIA Inc (MBI.N: Quotazione) and Ambac Financial Group Inc ABK.N and divested its stake in McDonald's Corp (MCD.N: Quotazione).
In a filing with the U.S. Securities and Exchange Commission, Pershing Square said it has 697,700 put option positions in MBIA and 1 million put option positions in Ambac as of Dec. 31, 2007.
Pershing Square also raised its stake in retailers Borders Group Inc BGP.N, Sears Holdings Corp (SHLD.O: Quotazione) and Target Corp (TGT.N: Quotazione). (Reporting by Shivani Singh and Sayantani Ghosh in Bangalore; Editing by Jarshad Kakkrakandy; )
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