Perpetual has dumped its investment in Ten Network Holdings, selling a 7.8 per cent shareholding on Thursday.
The shareholding was Perpetual’s remaining stake in the media company, a line of 111.8 million Ten shares, which were traded at 27¢ each on Thursday morning, worth $30.2 million.
The trade was made at a 1¢ discount to Ten’s close on Wednesday night.
Perpetual was understood to be the vendor, while Bell Potter Securities was believed to have handled the trade.
It follows similar selling yesterday, when Bell Potter sold 30 million Ten shares on behalf of Perpetual.
Perpetual has been progressively decreasing its shareholding in the struggling TV broadcaster over the past fortnight, cutting its previous 14.8 per cent holding to less than 5 per cent.
TEN Price at posting:
23.0¢ Sentiment: None Disclosure: Not Held