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Kerry Stokes’ investment in Ten Network Holdings Limited (ASX:TEN) has been confirmed, according to sources interviewed by the Australian Financial Review. It’s understood the stake is smaller than first believed.
Seven (WAN) Pty Ltd, a private company controlled by Mr Stokes has reportedly bought 22 million shares, a 2.1 per cent stake.
Other sources cited in the paper deny Mr Stokes has been buying the shares.
Ten is expected to comment this morning during its AGM.
Ten Network reported a net profit of $17.6 million for the year to August 31.
