Australia's Nine Entertainment gains on report of Tanarra acquiring stake

Nine Entertainment Holdings

06/01/2025 02:16

** Shares of Australia's Nine Entertainment  NEC.AX  rise as
much as 2.4% to A$1.275
    ** Stock hits highest level since early December 2024
    ** Tanarra Capital, run by fund manager John Wylie, has
taken an undisclosed stake in Nine - Australian Financial Review
(AFR) reports 
    ** Tanarra's stake in Nine has not been made public because
it is below ASX's disclosure threshold, according to AFR, which
is published by Nine Entertainment
    ** Tanarra and Nine did not immediately respond to Reuters'
requests for comment
    ** NEC dropped 38.9% in 2024

(Reporting by Rishav Chatterjee in Bengaluru)
((mailto:Rishav.Chatterjee@thomsonreuters.com;))