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Could CATL be buying SYA?

But according to reporting in The Australian today, we can now put a figure on these CATL sale rumours. CATL reportedly might have sold up to $601 million worth of Pilbara shares. The article stated that “the block sale of Chinese battery giant [CATL]’s shareholders was undertaken by brokers, according to reports”.This could indicate that CATL has sold the majority of its Pilbara stake. The report found that CATL held 207.5 million Pilbara shares on its books as of 14 September 2022. So if CATL has indeed offloaded $600 million worth of shares, it has cashed out around three-quarters of its entire Pilbara stake.So with so many shares possibly up for sale, it’s perhaps no wonder that the PIlbaa share price has fallen by more than 10% over the past week or so:The post Someone in China has just sold $600 million of Pilbara Minerals shares. Here’s what we know appeared first on The Motley Fool Australia.