Interesting announcement by New York based Fidelity that they have increased their stake in ave by no less than 42% when the sp was around 65p
By my reckoning the Fidelity holding now stands at an average cost of
guess what .........65p
ie
Date Trade Av sp Cum Total
15/04/2004 17729996 100p 17729996
17/08/2004 5714197 95p 23444193
13/10/2004 8024997 70p 31469190
08/12/2004 5495654 65p 36964844
18/01/2005 4679108 52p 41643952
29/07/2005 23796544 35p 65440496
21/10/2005 26799956 64p 92240452
Av SP 65p
Also since the rights issue approx 106m shares have been traded of which 23m have been acquired by Fidelity Allowing for some double counting this suggests around 50% of "free market" trades have been directly related to Fidelity
and hence that all the other Institutional holders have been sitting tight
Could it be that long time ave insider Fidelity is now maximising their holding in anticipation of a bid probasbly from New York based Cendant the Avis Inc owners
?
Aventis New Ads stock quotes
Aventis New Ads stock charts
Follow this thread
