Helloworld Travel corners 15pc of Webjet Holdings; pays 89c
There’s no stopping Helloworld Travel boss Andrew Burnes and his blossoming obsession with his ASX-listed rival Webjet Holdings.
Fund manager sources said Helloworld bought another 5 per cent of Webjet on Wednesday evening, lifting its stake past 15 per cent. They added Unified Capital Partners had lined up the trade as well as its predecessors.
Of note, Helloworld paid 89¢ per share in the latest shopping spree, well above the 40¢ mark where it began accumulating the stake back in April.
It has now pulled ahead of the BGH Capital and Gary Weiss’s consortium, which accumulated a 10.7 per cent stake via Macquarie Capital, and launched a bid at 80¢ a share that was rejected by the Webjet board.
More to come
HLO Price at posting:
$1.54 Sentiment: Buy Disclosure: Held
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