Activist investor backs WHSmith travel shift with £65m stake

Activist investor Palliser Capital has acquired a 5% stake in WHSmith, citing the opportunity to boost the retailer’s “underperforming” share price following its exit from the UK high street.
The London-based investment firm confirmed the move just weeks after WHSmith offloaded its legacy high street division to focus on its more profitable travel retail business.
Palliser Capital founder and chief investment officer James Smith said: “Following the sale of its legacy hig