Australia's richest woman Gina Rinehart has reduced her stake in Fairfax Media amid a continuing dispute over seats on the firm's board.
She has sold 86.5 million shares worth A$50.1m ($51m; £33m), reducing her stake to 14.99% from 18.67%.
The moves comes just days after Fairfax denied her request for three seats on the board.
Analysts said reducing her stake to below 15% was a tactical move to get Fairfax to agree to her demands.
"The two most likely or potential strategies are that Mrs Rinehart is looking to quit her position entirely or, possibly more likely, it's just a strategic play in the overall game to increase her pressure on the board," said Ric Spooner, a market strategist at CMC markets.
Source & Image : BBC
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