A few suppressed laughs were audible from the 100 or so shareholders in Independent News & Media as company chairman Leslie Buckley told them that one of the reasons why INM found itself in need of restructuring was that it had overpaid for acquisitions several years ago.
Of course, sitting at his right hand in the basement meeting room of the Alexander Hotel was INM’s chief executive Robert Pitt, who in the preceding days and weeks...
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