Activist investor Trian Fund Management takes stake in Comcast

(Reuters) - Activist investor Trian Fund Management LP has taken a stake in Comcast Corp CMCSA.O in a bet that the media company's stock is undervalued, a regulatory filing on Monday showed.

The investor has taken a stake of 7.16 million shares, the filing said, adding that the change in holdings are as of June 30.

“We have recently begun what we believe are constructive discussions with Comcast’s management team and look forward to continuing those discussions,” Trian’s spokesperson said on Monday.

Trian owns about 20 million shares in Comcast, for a roughly $870 million stake or about 0.4% of the total company, the Wall Street Journal first reported.

Comcast did not immediately respond to Reuters request for comment.

Reporting by Akanksha Rana in Bengaluru; Editing by Amy Caren Daniel