Will be interesting to see who they are buying this stake for http://www.nzherald.co.nz/business/n...ectid=12033283
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Will be interesting to see who they are buying this stake for http://www.nzherald.co.nz/business/n...ectid=12033283
http://www.nzherald.co.nz/business/n...ectid=12033283
I smell a planted story designed to get the sp up and profits via the plant.
Ellerton makes it very clear that the shares were bought in a discretionary manner for clients - not under the direction of any client!
If Wesfarmers is the beneficial owner, it would have had to disclose so - otherwise, it risks forfeiture of the shares.
Another possible scenario is they have bought for Wesfarmers but also other clients which took them over 5%...might be Wesfarmers are 4.9% and the balance that tipped them over 5% was for other clients as seems odd to go to 5.13% and thus be forced to disclose.
The stake is worth $200m+ which is a large bet for a fund manager with $5b but not out of the question if they see real value at $6...
ill try my luck on a short again on the open in aus worked nicely last week , pump and dump stories i reckon
http://www.nzherald.co.nz/business/n...ectid=12033325
"Doing what other fund managers do" BUT the media writes it up as Wesfarmers and a takeover in the offing.
NZX and FMA investigating or asleep at the wheels as per usual?
Still have the US debt to deal with which is having some issues, not as easy as they initially thought it would be. But at least some positive news flow