Murakami-linked fund boosts stake in Japan's Shinsei Bank

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FILE PHOTO: The Shinsei Bank logo is pictured at the lobby of the bank in Tokyo, Oct. 22, 2010. REUTERS/Yuriko Nakao/File Photo
FILE PHOTO: The Shinsei Bank logo is pictured at the lobby of the bank in Tokyo, Oct. 22, 2010. REUTERS/Yuriko Nakao/File Photo

TOKYO (Reuters) - A fund backed by activist investor Yoshiaki Murakami raised its stake in Japan's Shinsei Bank, the target of a $1.1 billion takeover bid by SBI Holdings Inc.

The Murakami-linked City Index Eleventh fund has been steadily increasing its ownership in Shinsei. The fund along with S-Grant Corp and other investors now hold 9.16% from 8.14% previously, according to a regulatory filing on Tuesday.

Shinsei said last month it would cancel plans to introduce a poison pill defence aimed to block the takeover bid from online financial conglomerate SBI Holdings.

(Reporting by Rocky Swift in Tokyo; Editing by Tom Hogue)

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