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Crown moves to lift Echo stake
04 Jul 2012 - Crown Limited (ASX:CWN) amends its application for regulatory approval, to increase its ownership of Echo Entertainment Group Limited (ASX:EGP).
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Crown Limited (ASX:CWN) says it has amended its application for regulatory approval to increase its ownership of Echo Entertainment Group Limited (ASX:EGP).

Crown is now seeking to acquire more than 10 per cent of shares in Echo to a maximum of 25 per cent.

The news follows fund manager Perpetual Limited (ASX:PPT) being granted approval yesterday, to increase its shareholding in Echo from 10 per cent to a maximum of 15 per cent.

In the first half of the 2012 financial year, Crown generated a net profit of $274 million.

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