UBS more than halves its NZME stake

(Image: Getty)

Thu, 23 Mar 2023

Swiss-based UBS Group has cut its stake in media company NZME by more than half in transactions relating to derivatives.UBS said its stake fell to 7.6%, or 13.9 million shares, on March 20 from 16.5%, or 32.1m shares, when it last filed a substantial shareholder notice on Sept 22.The schedule of transactions showed they were made by UBS Australia and the UBS London branch and that the latter’s relevant interests involve the “power to control disposal over shares pursuant to stock borrowing and lending activities”.Most of the r...

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