james packer buying in todays smh

A MOVE by Packer-controlled Ellerston Capital to buy into online auction site Trade Me is part of a growing trend among private equity and traditional media to boost their presence in online transaction sites.

Analysts said Ellerston's move was a sound strategy that built on recent purchases by the fund manager in the online space.

Ellerston Capital, a fund manager controlled by James Packer's family interests, now owns 5.18 per cent of Trade Me, according to a substantial security holder notice to the New Zealand Stock Exchange.



Read more: http://www.smh.com.au/business/packer-takes-stake-in-trade-me-20120816-24bbl.html#ixzz23kehhKJU