Ann: Change in substantial holding from CBA , page-4

It is a statutory filing, so doesn't necessarily indicate they have finished selling. Once they fall below 5% (they are at 5.13%) they will have to lodge a 'ceasing to be a substantial shareholder' notice. Again, this doesn't necessarily mean they have finished selling, however, we won't be informed if they do. Interestingly, the largest holders for whom CBA hold shares are Citicorp Nominees and Citibank...this selling would seem counter to their research today?

Silver lining - for every seller there is a buyer...someone has managed to pick up 2m shares in the mid-low 20's...half their luck!