LONDON Jan 11 British grocer WM Morrison
, under pressure since posting worse-than-expected
Christmas sales, is set to face calls from a U.S. activist
investor to shake-up its property portfolio, reported the
Hedge fund Elliot Associates and other activist investors
have built up a stake in the supermarket chain and are pushing
for it to sell off some of its freehold properties, the
newspaper said on Saturday, citing people familiar with the
A spokesman for Morrisons declined to comment on the story.
Morrisons, Britain's fourth largest grocer which lagged
rivals over the Christmas trading period with a 5.6 percent
slump in underlying sales, said in September it had launched a
review of its property portfolio.
It said then that it planned to continue to hold the
majority of its core estate on a freehold basis but would manage
its 9 billion pound ($15 billion) property portfolio on more
The activist investors are pushing for Morrisons to go
further and sell freehold properties, said the newspaper.
Elliot Associate's holding in Morrisons is thought to be
less than 1 percent.