commonwealth bank selling down

Announcement at 11:52am today shows CBA have lowered their holding from 8% to 6.51%.

From the volume today it looks like further sell down from CBA or another insto. Share price is doing well I beleive with the large sells going through.

Interesting to note there were 315 million shares on issue as at December 2004. As at Jan 2007 there were 956 million shares on issue.

Also the return on equity has gone from 56% to 7% during this time.