Forbe- Qantas Airways Ltd chairwoman Margaret Jackson has warned that hedge funds holding large stakes in the flag carrier pose a massive risk to the stock price, the Australian newspaper reported.
In her first public appearance since Airline Partners Australia’s 11 bln aud bid for the airline collapsed earlier this month, Jackson was quoted as saying that she had no regrets about the takeover process because it had led to a re-rating for Qantas’ share price.
But The Australian said Jackson was surprised the shares had not fallen significantly below the 5.45 aud offered by APA after the bid failed.
‘I think the surprising thing is that the large hedge funds are still on our register and the really pleasing thing is the share price has held up, and that’s great for shareholders,’ she said.
‘It’s hard to imagine they’re going to stay there, that’s not what hedge funds do, so there will be potentially some volatility as that is sorted out.’
