mystery buyer snaps up vah stock

Mystery buyer snaps up Virgin Australia stock

John Durie
The Australian
June 05, 20134:45PM

FIVE per cent of Virgin Australia has changed hands today, with 120 million shares traded worth some $56 million and no real clues whom the buyer might be.

The trades were understood to have gone through a dark pool operated by Deutsche Bank, raising more confusion on the identity of the buyer.

Speculation on the buyer has centred on Etihad Airways but a spokesman said the airline had no comment to make on the trading.

The entry of a new player seems doubtful, given the crowded share register. The Etihad spokesman also declined to comment on whether the necessary Foreign Investment Review Board approval had been sought to increase its holding.

Singapore Airlines increased its holding in Virgin Australia to 19 per cent when Richard Branson sold down his stake from 23 per cent to 13 per cent.

The move reportedly didn't please Etihad chief executive James Hogan, given he is sitting on just 10 per cent of Virgin Australia behind SIA and Air New Zealand.

Another name mentioned as seller is former Virgin boss Brett Godfrey, who held 2.5 per cent of the airline.

Shares in Virgin Australia closed down 0.5c, or 1.08 per cent, at 46c. In all, some 10 per cent of Virgin has changed hands in the past week.

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