Numis dispute goes to the FSA

13 April 2012

MAGAZINE company Incisive is expected to complain formally to the Financial Services Authority this week about the role of stockbroker Numis in the auction of rival publisher Centaur Communications.

Numis won the auction for Centaur despite acting as joint broker to Incisive, which was also taking part in the process. The complaint comes as City investors voiced doubts that Numis will achieve its valuation of £160 million for Centaur as the losing bids range from £70 million to £115 million.

At least six large institutional investors have declined to take part.

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