Oaktree to offload 40pc of Nine stake

One of Nine's major shareholders will offload 40 per cent of its stake in the media company’s imminent float just a year after buying in.

ONE of Nine Entertainment Co's major shareholders will offload 40 per cent of its stake in Nine'’s imminent float just a year after buying into the media company.

US hedge fund Oaktree Capital, which owns 26 per cent of the television, digital and entertainment group, confirmed it is reducing its holding in a sales facility for original investors, which closed last night.

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