Thursday, August 30, 2007

Norwegian Fund Takes a Liking to Oil Driller Pride International (PDE)

In a 13D filing on Pride International Inc. (NYSE: PDE), SKAGEN Funds, a Norwegian Investment company, disclosed a 9.03% stake (15,053,900 shares) in the company.

In a pretty standard disclosure, the firm did not make any direct requests on the company, but said they believe the shares are undervalued and said they may enter discussions with the company or others.

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