Well you would think that VPE would have a price in mind for what they want to pay to have ITC... so knowing this anything they can get hold of below this price is a bonus to them. (Assuming they are looking to take over ITC) This would of course place signals to the market of their intention's given that trades would have to be reported. As a result of this you would expect other traders to decide what they are going to do...
As guttedsquid pointed out the top 20 are the ones that hold over 50% of the company... what should also be noted is that of that VPE already holds 10.18% of the company (I am not sure what percentage they have in the top20. Just the Berne Nom A/C with 9%?)
They can purchase another just over 88 Million shares before they have to make a formal takeover offer (As this would take them over 20%)... There just isnt that many shares up for sale right now.
We shall see what happens in the coming weeks or months...
ITC Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
