Shares in Entertainment One (ETO) leapt 7 per cent on news that founding shareholder Marwyn Value Investors (MVI) had offloaded its remaining 17.9 per cent stake in the TV and film distribution company to Canada Pension Plan Investment Board at 269p.
IC TIP:
Buy
at
289p
When we tipped Entertainment One in July, we suggested a price fall on the back of an earlier share sale by Marwyn presented a buying opportunity. Unfortunately, this call proved a bad one, with the shares coming under pressure as speculation mounted that more sales were on the way. But this week's transaction removes the uncertainty and should allow the market to focus on Entertainment One's merits.
