This is an Outrage!, page-20

Teoh can't sell. Imagine if he sells. Think how the rest of the shareholders would react?

SP has these two factors:
1. Entered into it very cheap. Even at this price would still be making a profit
2. Value investor, any signal of them selling would send a negative signal to the market. Besides they are a fund and would have mandates to have "x%" in telco etc. They can just easily shift it between their portgolios to balance it out

Just my 2cents.