With the APA Qantas deal looking increasingly unlikely to go through in its current form, with the APA consortium considering lowering the 90% acceptance condition, Qantas shares traded heavily on Thursday.
One broker is reported to have traded an order of 58 million shares at $5.19 and total orders for the day on Qantas were around 80 million.
Analysts say that the trading is linked to hedge funds which hold
about 40$ of Qantas shares, with the surge in volume also coming after investment banks have increased their stake in the airline over the last few days, with Credit Suisse now holding 5.4% and Deutsche Bank 8.4%
Report by The Mole
