February 28 - Yesterday's rise in PartyGaming Plc shares on the London Stock
Exchange, gave its shareholders cause to reach for the champagne, particularly one
unknown shareholder who took the increase as an opportunity to sell a few shares
- £50 million worth in fact.
The shares rose by 3.25 pence by early yesterday and jumped to 43 pence after
the enormous sell-off. However, by the end of the day the share price had
returned to where it started on the day.
PartyGaming Plc owns and operates
PartyPoker.com, one of the largest and most
popular poker rooms on the Internet today.
The PartyGaming shares were reportedly sold via leading financial services firm
Morgan Stanley. While the seller's identity is still unknown, according to
certain online sources, the 123 million block of shares originated from a
Bermuda-based fund called Orbis.
It is believed that Orbis is the same fund that bought stock from ex-PartyGaming
Group Marketing Director, Vikrant Bhargava in January this year.
