It means CGNPC have been shorting the stock (predominantly, as opposed to accumulating long positions). Prima facie proof of manipulation, and designed to instil in the minds of KAH holders or at least enough of them to make a difference, that an offer which may end up being close to the original offer of 290p (yet still short of actual value by 40-50%) is the one to accept, given that they (KAH shareholders under such a scenario) would be happy to accept it from a perception of having 'won back' all the ground lost post Fukushima. Classic Chinese negotiation methodology. HOWEVER...they are fooling no one.
You NEVER NEVER NEVER go into a negotiation with a 'possible offer' at the lowest amount comparative to previous offers in the hope that the target shareholders become despondent and before the ink has dried on said offer...RAISE IT!! They are beginning to make strategic errors.
EXT Price at posting:
$7.62 Sentiment: Buy Disclosure: Held
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