Mining magnate Rinehart lowers stake in Oz media firm Fairfax

Jul 5, 12:59 pm

Sydney, July 5 (ANI): The world's richest woman and mining magnate Gina Rinehart has sold down her stake in Australian media firm Fairfax, according to a report.

Rinehart's move was contrary to reports that she is about to launch a full takeover of the media company.

According to The Age, over 86.5 million shares in Fairfax changed hands in a special crossing at the close of trade today.

The transaction, at 58 cents a share, represents some 3.7 percent of the media company's shares.

According to the report, the sale of the shares brings Rinehart's stake in Fairfax to just below 15 percent. (ANI)

Fairfax, Gina Rinehart, Mining magnate, stake

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