BUZZ-Australia's Nine Entertainment gains on report of Tanarra acquiring stake

Reuters

Jan 06

** Shares of Australia's Nine Entertainment NEC.AX rise as much as 2.4% to A$1.275

** Stock hits highest level since early December 2024

** Tanarra Capital, run by fund manager John Wylie, has taken an undisclosed stake in Nine - Australian Financial Review $(AFR.AU)$ reports

** Tanarra's stake in Nine has not been made public because it is below ASX's disclosure threshold, according to AFR, which is published by Nine Entertainment

** Tanarra and Nine did not immediately respond to Reuters' requests for comment

** NEC dropped 38.9% in 2024

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com;))

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