US fund manager Fidelity Investments has increased its stake in the London Stock Exchange to over 5%, becoming the UK bourse's third-largest shareholder, after Italian banks UniCredit and Intesa SanPaolo dumped their holdings in an accelerated bookbuild this week.

Fidelity Investments, which is headquartered in Boston, increased its stake in the LSE from 5% to 5.23% on Wednesday, according to a regulatory notice issued by the LSE this morning. The fund manager is now the LSE's third-largest shareholder.