Perpetual has lifted its stake in Prime Media Group (ASX: PRT) to 15%, further solidifying it's position as majority shareholder

Perpetual has lifted its stake in Prime Media Group (ASX: PRT) to 15%, further solidifying it's position as majority shareholder. According to The Australian, Head of equities Matt Williams confirmed Perpetual bought stock in Paul Ramsay's sell-down. UBS were responsible for placing the healthcare group founder's $95.7 million stake with institutional investors at 87c a share, a 9% discount to its current share price. Perpetual has been increasing their exposure to media stocks as the advertising market improves and Communication Minister Malcolm Turnbull prepares to relax changes to media ownership laws. (subscribers link) (VIEW LINK)


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