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The Irish Mafia

  • 10-07-2003 4:22pm
    #1
    LoneGunM@n
    Closed Accounts Posts: 1,414 ✭✭✭


    I had to laff today as I read the Mirror [I know it's only a rag, but hey it's lighter than the Indo]!!

    Anyway, I was reading an article on McManus & Magnier.

    Lsat week they made it known that they intended to offload their shares in United because of their disharmony @ the purchase of Ferdinand for £30 mill.

    As a result the share price dropped by nearly 4%.

    Then yesterday, United informed the UK Stock Exchange that The Cubic Expression Company - owned by McManus & Magnier - had increased it's holding in United to 29,612,396 Ordinary Shares [approx. 11.4% of the Issued Share Capital]!

    I doubt that the statement was purposely released about the impending sale so as to cause the share price to drop, so that they could purchase more shares @ a reduced price, but it looks a bit circumspect!! :D

    If they did, they absolutely ROCK!!

    Go on the Irish Mafia [as they were called by Frank Stapleton on MUTV last night] :cool: :D


Comments

  • #2
    ciano
    Closed Accounts Posts: 679 ✭✭✭ciano


    Could they not get done for insider trading for that kind of thing? (if the report is true of course)


  • #3
    KdjaCL
    Closed Accounts Posts: 20,346 ✭✭✭✭KdjaCL


    Yes thats illegal i had read they were selling up then seen today they bougth more shares.
    Umm if found guilty could be fined a lot fo cash.



    kdjac


  • #4
    LoneGunM@n
    Closed Accounts Posts: 1,414 ✭✭✭LoneGunM@n


    I doubt it's what actually happened!!

    Just thought it was funny!!

    I'd say they're well knowledgeable on insider trading. Wasn't their mate Dermot Desmond being investigated for insider trading in relation to his purchase of shares in Celtic??


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