Ann: Change in substantial holding from ZER, page-2

Well, I wasn't expecting that. Not only did Zeta not participate in the RI (that bit was expected), but they actually sold 3.4m shares last week, which will take them down to ~13% (265m / 2,051m) when the dust fully settles. Naturally this assumes they don't continue their selldown.

The size of their selling was very small, relative to their overall holdings (~1.5%), but it's a very interesting development in the signal it sends. WSA is now well and truly in the box seat, as far as the pecking order goes.

Given the volumes traded over the past week, it will be interesting to see if any new players emerge over time, after building their position(s).