Value of Fairfax Media Shares Decline 3.5% After Gina Rinehart Threat

By International Business Times,  June 26, 2012, 08:21:14 PM EDT

The power of Australia's richest woman, Gina Rinehart, was immediately felt by Fairfax Media even before she steps into the company's boardroom. A day after Ms Rinehart threatened to sell her shares of the company, Fairfax shares declined 3.5 per cent and closed at 55 cents.

The dip was attributed to her threat which made other Fairfax stakeholders unload their stocks ahead of an anticipated boardroom battle when Ms Rinehart gets her demand and given more powers by the board of directors.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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