This release states that Cliffs has been selling tens of thousands GWR shares everday since 8 Novemeber. Based on the volumes Cliffs must be the only ones selling GWR.
My guess is Cliffs will keep selling until they are completley out of GWR. Cliffs only own 8% now and they got those shares by luck from FAS during the OPES Prime scandal. Does anyone remember that saga!
My guess is that Cliffs are selling as part of realising cash for their shareholders in the USA, rather than a vote of no confidence in GWR.
The good news is that over the next few months it will be a great time to buy!
Ann: Change in substantial holding , page-2
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