UOL gain of 53 million from UIC (at the expense of UOB?)

As UOL bought additional 133.6 million UIC shares from United Overseas Bank at S$2.40 a share as published on 22 December 2010, UOL has made $53 million paper profit since UIC closed at $2.80 on 14 January 2011.

Not a bad deal for less then a month of desktop corporate game.

For UOB shareholders, thank you for your kindness. It is a season of sharing!