21 Jul 2015

Contact's price falls amid Origin sale speculation

1:15 pm on 21 July 2015

Speculation is mounting that Contact Energy's majority shareholder is about to sell its stake.

The Australian Business Review has reported that Macquarie Capital was rumoured to be handling the sale of Origin Energy's 53 percent stake at a price of $4.50 a share.

That's a 12 percent discount to yesterday's lower closing price of $5.10 a share.

Director of wealth management at Murray & Co, Johnny Cochrane, said the market was anticipating a sale.

"The market is definitely starting to vote with its feet and starting to price in such an eventuality," he said.

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