Gatemore Seeks Watches of Switzerland Buyback, US Listing (1)

Gatemore Capital Management has taken a position in Watches of Switzerland Group Plc and is asking the retailer of luxury timepieces to pursue an aggressive share buyback and consider listing in the US.

The activist investment firm disclosed its stake in London-listed Watches of Switzerland on Tuesday.

Gatemore managing partner Liad Meidar said at the 13D Monitor Active-Passive Investor Summit in New York on Tuesday that the firm engaged with Watches of Switzerland last month.

He said Gatemore asked it to pursue an “aggressive” share buyback — £25 million ($32 million) to £50 million — and that the message had ...