A big block of Transmile Group Bhd shares which changed hands at M$12.90 (US$3.71) each in an offmarket deal last month – at three times the prevailing market price– appears to have been an internaltransaction conducted by its majorshareholder, Pos Malaysia group, StarOnline reported.

The report said that the off-market deal, details of which were unavailable, involved Pos Malaysia & Services Holdings Bhd (PSH) transferring its shares in Transmile to Pos Malaysia Bhd (PMB) as part of the restructuring of the postal group that involves a capital repayment and transfer of PSH’s listing status to PMB.

PSH chief operating offi cer Datuk Abu Huraira Abu Yazid reportedly told the media that the postal group had no immediate plans to sell its 14.98 percent equity interest in Transmile.