Temasek selling Merrill Lynch

[dysentry]

http://www.littlespeck.com/content/economy/CTrendsEconomy-080724.htm

Temasek Holdings has sold off half its ill-timed investment in Merrill Lynch - or about 87m shares, according to a mutual funds report on institutional trades on US stocks.

The online report, MFFAIRS (Mutual Fund Facts About Individual Stocks), reported it sold off 86,949,594 shares (50%), leaving a current holdings of 86,949,594 shares (50%), according to the filings made public.

The report gave no exact date or price of the sale.

(Update: Making no reference to Mffairs reported sale, aTemasek source says its ML shareholding has remained unchanged at 86.9m since March. See accompanying story).

Neither has there been any confirmation from Temasek, which had paid US$48 a share last year. http://www.mffais.com/newsarticles/2008-07-22/2473637-211738.html

Last week Merrill Lynch was traded at $31.

 

[wallace]

Why does Ho Ching keep buying and selling, I hope this is not a loss case.

 

[porcupine]

http://www.littlespeck.com/content/economy/CTrendsEconomy-080724.htm

Temasek Holdings has sold off half its ill-timed investment in Merrill Lynch - or about 87m shares, according to a mutual funds report on institutional trades on US stocks.

The online report, MFFAIRS (Mutual Fund Facts About Individual Stocks), reported it sold off 86,949,594 shares (50%), leaving a current holdings of 86,949,594 shares (50%), according to the filings made public.

The report gave no exact date or price of the sale.

(Update: Making no reference to Mffairs reported sale, aTemasek source says its ML shareholding has remained unchanged at 86.9m since March. See accompanying story).

Neither has there been any confirmation from Temasek, which had paid US$48 a share last year. http://www.mffais.com/newsarticles/2008-07-22/2473637-211738.html

Last week Merrill Lynch was traded at $31.

Bro, I think this is a rumour only. Spokesman of Temasek denied this.

 

[dysentry]

Even if they didn't sell, they bought at $48, now its $31. More writedowns ahead.

 

[yinyang]

False alarm, gaffe by some1. Still write down (for now) no less.

 

[onetwo]

Bro, I think this is a rumour only. Spokesman of Temasek denied this.

Did Temasek made any official statement to deny it? If so, where can I find it online?

I really hope this is a false alarm, it pains me each time I see Singapore loses money!

 

[tonychat]

Ur govt buy high sell low. What a clever govt. LOL!!!!!!

 

[tenggiri]

Did Temasek made any official statement to deny it? If so, where can I find it online?

I really hope this is a false alarm, it pains me each time I see Singapore loses money!

Temasek has upped their stakes in ML, bringing their total commitment to about 10%.