Activist hedge fund Elliott Management took a short position in French oil giant TotalEnergies, according to a regulatory filing, a move that comes shortly after the investor built a stake in Britain's BP.

Activist hedge fund Elliott Management has made a EUR 670M short bet against TotalEnergies (TTE), reports Financial Times. The short position,

Hedge fund Elliott Management has taken a €670mn short position in French energy major TotalEnergies according to regulatory filings, as the US activist firm agitates for change at rival BP. The bet, worth 0.52 per cent of TotalEnergies’ stock, was taken on Thursday and publicly disclosed by the French markets regulator on Friday.