An investor group led by French billionaire Xavier Niel plans to lift its stake in asset manager GAM beyond 10 per cent, a move that threatens the sale of the troubled group to UK rival Liontrust. The investor group said on Tuesday that it would notify the Swiss Financial Market Supervisory Authority of the plan to increase its holding in GAM, a once high-flying asset manager, from 8.4 per cent to more than 10 per cent of GAM’s voting rights.

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