Mining magnate Rinehart lowers stake in Oz media firm Fairfax
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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)
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