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Thread: Flybe Struggling (as ever)

  1. #181

    Re: Flybe Struggling (as ever)

  2. #182

    Re: Flybe Struggling (as ever)

    Quote Originally Posted by Egg View Post
    It would appear that the Connect consortium have bought one of the trading companies rather than the publically traded company which means they have managed to bypass any shareholder approval for the proposed 2.2m deal announced last week which valued the company at a massive discount to the share price immediately prior to the bid. The PLC is presumably now a shell company with few/no assets. I would think that shareholders are pretty cross.

    It is possible that this was move was always the plan or, possibly, it was the only option as the banks were seemingly on the verge of refusing to allow Flybe to use their credit/debit card services today which would have resulted in an immediate collapse. That has been avoided as this deal has resulted in the consortium dropping 10m into Flybe to keep it flying.

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