UBS Global Asset Management have sold about 5m shares since the 2nd December. They got a whole pile by the looks when they acquired ING IM. Another UBS entity has borrowed about 10m shares - which is why they are currently a substantial holder - which is the opposite of what I expected to see.
I'm not sure if they borrowed them to sell, or to on-lend to another party to sell, to top up their accounts or for some other reason.
There must be a big buyer who is collecting them off UBS Global Asset Management and other sellers, as the SP is holding up in the face of a lot of selling. There are 58m more shares to go if they sell them all.
TPI Price at posting:
79.5¢ Sentiment: ST Sell Disclosure: Held
