By James Chessell
May 17 2003
He's a busy man, that Trevor Kennedy. One day he gets stuck into PowerTel and now he's planning to head to New Zealand next week with the other Qantas board members for a strategy meeting.
Then there's Oil Search, which holds its AGM at Port Moresby's Crowne Plaza Hotel next Friday. The PNG oilfield operator has attracted the eyes of a few trading desks lately. ABN Amro was busy on Thursday, putting through a few big lines adding up to 12.4 million shares.
There is speculation that someone might be building up a stake. But a hostile bid is unlikely - the Government could make it hard for an unknown predator.
At this stage the board hasn't talked to anyone and those close to the company point out an issue of convertible preference shares recently converted. The most likely scenario is that someone with a bent for fixed interest has sold a line of shares after they converted.
|
Post Courier