packer increased stake in crown at $9

JAMES Packer's Consolidated Press Holdings Ltd has increased its stake in casinos group Crown Ltd to just over 40 per cent.

ConsPress now has 303.51 million shares, or 40.02 per cent of Crown, up from 280.75 million or 37.02 per cent in March, according to a change in substantial shareholding notice filed with the stock exchange today.

ConPress on Friday October 9 bought 22.75 million shares at $9 each for a total of $204.77 million to top up its holding, according to the notice.

Financial markets were rife with unconfirmed speculation on Monday that Mr Packer may be planning to privatise Crown.

Crown shares last traded at $9.01 yesterday.