Soros reports 7.9 percent stake in Penney, shares rise

RetailReuters

Billionaire investor George Soros reported a 7.9 percent passive stake in struggling department store chain J.C. Penney Co on Thursday.

Penney shares rose 6.3 percent to $16.20 in after-hours trading.

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(Reporting By Dhanya Skariachan; Editing by Gary Hill)