Elliott pushes shake-up at Colombia’s Avianca

Elliott Management, the US hedge fund, is leveraging its position as lender to Avianca’s majority shareholder to force Colombia’s flagship airline into a sale or strategic partnership.

The New York-based activist fund, famed for a decade-long pursuit of Argentina over its defaulted bonds, has become increasingly influential in discussions about Avianca’s future even though it does not hold a stake in the carrier, according to people close to the company.

Source: Financial Times