E*Trade shares sell for more than ANZ’s offer

ANZ's prospects of buying E*Trade are diminishing as institutional investors sell their shares on the market for more than the $4.05 offer from ANZ. E*Trade's original US parent, E*Trade Financial Corporation recently sold its 4.1 per cent stake in the company on market and Perpetual Investments sold its stake on market while E*Trade shares were trading around $4.20.