It is rather strange that MQG should be building up it's stake when the TO procedures (Scheme meeting in November, etc) are drawing closer. At present with 19.5% stake it cannot go much higher. The price gains to be had towards the conclusion are very small. The best interpretation seems to be that they may be trying to force some kind of blocking action. Why that? Is it for some face saving exercise (considering its historical involvement), or to extract a marginally higher price, or to maintain some exposure to 407 ETR? What additional scenario can anyone else suggest?
Juke
ITO Price at posting:
$1.49 Sentiment: None Disclosure: Held
