Toscafund sells Taylor Wimpey stake

LONDON (Reuters) - Hedge fund Toscafund has sold off its stake of 10 percent in the country's largest housebuilder Taylor Wimpey.

Stock exchange filings on Friday and Monday showed Toscafund's stake in the housebuilder, which is currently struggling to renegotiate its 1.7 billion pound debt pile, has been cut from 112 million shares to below a notifiable interest.

Toscafund, run by Martin Hughes, also holds an 18 percent stake in Taylor Wimpey rival Redrow (RDW.L).

At 08:49 a.m., shares in Taylor Wimpey were up 6 percent at 22.25 pence, having earlier risen 12 percent to 23 pence, while the wider FTSE 250 index was up around 4 percent.

(Reporting by Victoria Bryan; Editing by Rosalba O'Brien)