Willis reduces stake in Rentokil

LAZARD'S Tony Willis has reduced his stake in business services operator Rentokil Initial, whose chairman Sir Clive Thompson recently sold £9.2m of shares. Willis unloaded 225,000 shares to leave his Lazard UK Alpha unit trust with 5.8m.

Rentokil's turnover and profits fell in 2003 but the dividend was upped by 10%.