October 23, 2007 / 2:44 AM / 10 years ago

AXA cuts passive stake in Cepheid, Legg Mason

Oct 10 (Reuters) - AXA (AXAF.PA), Europe’s second biggest insurer, filed with the U.S. Securities and Exchange Commission to disclose a cut in its passive ownership of Cepheid CPHD.O and Legg Mason Inc (LM.N).

AXA reported a 7.4 percent stake in genetic analysis systems maker Cepheid, down from its previous ownership of 13.7 percent. It reported a 8.9 percent stake in asset manager Legg Mason, a decrease from the previously reported 14.2 percent.

AXA also reported a 10.5 percent stake in drug wholesaler McKesson Corp (MCK.N). (Reporting by Sayantani Ghosh in Bangalore)

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