massive volume, page-38

silentpartnr
I've been struggling with the logic of all this the past week.

If the top 20 reflects ANZ/ML holdings post they're taking Opes' holdings, then according to the top 20, they have gained nothing since mar 13. Conclusion is that the top 20 does not reflect any of the holdings ANZ/ML have as a result of taking Opes'.

Further, if it did, then from mar 13 to apr 4, ANZ has dropped only about 4M shares? ML recent change in substantial holder reports seems to be reflected by the change between these two, but hardly the volume going through the market. I have a feeling ANZ/ML holdings are held under some different arrangement that is not reflecting in the top 20 reports.

Looking at the top 20 tells me nothing about how far to go before the ANZ/ML are done.

Anyone know how? Appreciate this.