Billionare Lewis raises stake in Bear Stearns

Joseph Lewis, a billionaire that snapped up a big 7 percent stake in hard-hit investment bank Bear Stearns Cos (BSC.N: Quote, Profile , Research) three months ago, has boosted his investment to 8.01 percent, according to a regulatory filing on Friday.

Lewis, a reclusive London-born investor, made a big splash in September when he snapped up $860.4 million worth of the bank's sagging stock to become one of its largest shareholders in less than a month.

According to the new filing, Lewis owned 9.25 million shares of Bear Stearns as of Dec. 5.

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- Posted: 2007-12-07 10:20:52

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