Australian fuel bigwig Viva Energy is in the middle of a transformative year and was winning the market’s trust. On Tuesday, it was paying for the supposed sins of its parent.
The knives are out for Viva Energy, the $5 billion listed group that supplies about a quarter of Australia’s liquid fuel requirements.
Hedge funds were shorting it with their ears pinned back on Tuesday ahead of a potential block trade out of anchor investor Vitol, one of the world’s largest independent energy trading companies.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
