Investors Dumping Mirror Shares

tm

After the higher than they hoped damages awarded to Mirror phone hacking victims last week the struggling newspaper group admitted that “costs of settling claims is likely to be higher than previously anticipated we are increasing our provision to deal with matters arising from phone hacking by £16 million. This is in addition to the £12 million provided in 2014.” So the Mirror group has gone from denying that there was any hacking at all, to putting aside £12 million and now more than doubling the provision to £28 million…  

City investors are still worried that this is nowhere near enough and that the final figure will be nearer £100 million, the shares have been trading down since the ruling with £30 million knocked off the capitalisation this week. There is some question as to if the company will be able to pay a dividend…




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Michael Gove on Tom Watson:

“Tom believes Rupert Murdoch picks the England cricket 1st 11 and England rugby 1st 15, as well as deciding who’s on Britain’s Got Talent.”

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