Market Talk

Petroceltic is a bargain at 3 pence, but there is no alternative for its investors

10th April, 2016
Angelo Moskov, chief executive of Worldview, speaking to shareholders at the Petroceltic egm last year

There’s probably a fair bit of shouting yet to be done. But aside from that, Petroceltic, the Irish gas explorer, looks like it will be in the hands of the Russian-controlled hedge fund Worldview soon enough.

Last week, the board of Petroceltic agreed to recommend the 3 pence a share offer that Worldview, the largest investor in the company already, had made.

As the company is in an examinership process, it represents possibly the...

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