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…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Nick Timothy on George Osborne’s latest:

“Evening Standard editorials will soon be shortlisted for the Booker Prize.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
What Caused Rachel Sylvester’s Volte Face? What Caused Rachel Sylvester’s Volte Face?
Osborne Repents Osborne Repents
Today Going Out of Fashion Today Going Out of Fashion
Faisal’s 683 Negative Tweets Since Referendum Faisal’s 683 Negative Tweets Since Referendum
Morning Star Fights Capitalism Morning Star Fights Capitalism
Brexit Twitter Sentiment Analysis: Robbo Not Neutral Brexit Twitter Sentiment Analysis: Robbo Not Neutral
Osborne Cracking Up Osborne Cracking Up
Mail McDonnell Investigation Didn’t Have to Look Far Mail McDonnell Investigation Didn’t Have to Look Far
Brexit Twitter Sentiment Analysis: Peston 82% Negative Brexit Twitter Sentiment Analysis: Peston 82% Negative
Mini-Nuclear Plants Produce Cheap Energy Mini-Nuclear Plants Produce Cheap Energy
Tab Wins $6 Million Funding Tab Wins $6 Million Funding
Kate and Wills Get Privacy Ruling Tomorrow Kate and Wills Get Privacy Ruling Tomorrow
Websites Included in Today Paper Review Websites Included in Today Paper Review
Telegraph’s Dumbed Down Diana Coverage Telegraph’s Dumbed Down Diana Coverage
Assed Baig Out Assed Baig Out
Remain Papers Backing Juncker Remain Papers Backing Juncker
Guardian is a Charity Case Guardian is a Charity Case
Sexist Snow’s Crack at Glass Sexist Snow’s Crack at Glass
Greens Live in Most Expensive Homes Greens Live in Most Expensive Homes
Guardian Brexit Coverage Bewildering Remainers Guardian Brexit Coverage Bewildering Remainers