UK investor Neil Woodford says sells Rolls Royce stake

December 9, 2015 4:45 PM

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LONDON Dec 9 British income-focused investor Neil Woodford said on Wednesday he had sold his stake in Rolls-Royce, citing problems in the firm's military aerospace, marine and civil aerospace businesses.

Woodford described the firm's November trading update as "very disappointing" in a blog post, adding "it is now likely that the dividend will be cut in 2016. This has shaken my confidence in the investment case and so the position has been sold across all mandates".

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