Packer quietly rebuilds a stake in Seek

Date: 30th May 2012

James Packer has quietly built a small strategic stake in online employment group Seek, making his first move back into the stock since his media company, Consolidated Media Holdings, stunned investors 2 1/2 years ago by selling its 26 per cent interest for $441 million.

It is understood Mr Packer's private company Consolidated Press Holdings owns 4.9 per cent of Seek, a stake that has been quietly acquired on market over the past 12 months and is worth more than $100m