While looking for any Basel II related information, I came across a substantial shareholder announcement from CBA to NAB, informing them that CBA has an interest in over 5% of NAB. Going through it, however, it becomes a little bit less interesting. The activity in buying NAB shares looks like normal trading activity by the various arms of the CBA – with one exception. This exception is a deal between Colonial Mutual (CMLA) and 452 Captial that essentially gives CMLA some influence over the 0.53% of NAB at 452 own.
It was this 0.53% that pushed them over the 5% reporting threshold. Must have been interesting finding all the details.