Activist Converium pushes UK's CVS to improve performance, FT reports

May 13 (Reuters) - British veterinary care group CVS CVSG.L is facing pressure from activist hedge fund Converium Capital to improve its performance after competition regulators concluded a probe into high prices in the sector, the Financial Times reported on Wednesday.

The UK's Competition and Markets Authority (CMA), in March, wrapped up a multi-year investigation into the vet industry, imposing reforms that included price transparency measures and caps on prescription fees.

Here are some details from the FT report:

• Converium has a roughly 2% stake in CVS

• It could seek board representation if CVS Group fails to act on its demands, Converium has warned

• Montreal-based fund has called on CVS to launch a 100 million pound ($135.41 million) stock buyback

• Converium has previously targeted UK estate agent FoxtonsFOXT.L, where it pushed for changes including a potential sale of the business, though unsuccessfully.

• CVS and Converium did not immediately respond to a Reuters' request for comment.

($1 = 0.7385 pounds)