Woodford sells decade-long holding in 'expensive' Reckitt Benckiser

Neil Woodford has ended a 10-year investment in Reckitt Benckiser after the shares became "too expensive" to justify holding any longer.

Revealing his latest portfolio moves, the manager (pictured) said in an update he had offloaded his £3.1bn Woodford Equity Income fund's position in the consumer goods giant after its rating became too high compared to other opportunities. A spokesperson for the group said: "We exited Reckitt Benckiser, a share which has been present in Neil's portfolios for over a decade. "We continue to view Reckitts as a great business with a very strong management team and an excellent product line-up. Such a high quality business deserves a high market rating but the shares have recently become t...