MORGAN Stanley, one of Arnotts' biggest shareholders has sold almost 425,000 of its shares in the company. The sale of 423,900 shares represents 2.42 per cent of Morgan's stock in the company is now 4.54 per cent.

Arnotts shares are trading at around 320p. Meanwhile, AIB has bought 201,000 shares in Arnotts, bringing its holding to 3.22 million shares, or 18.45 per cent.