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Reliance reduced its stake in Wickes Cos.

Less than four months after becoming the retailer’s largest shareholder, Reliance Financial Services, a unit of Saul P. Steinberg’s Reliance Group Holdings, reported that it has sold off most of its 10.4% stake. In a filing with the SEC, Reliance Financial Services said it now holds the equivalent of a 3.9% interest. It continues to be the largest single shareholder.


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