Tak Lee criticises Shaftesbury's investment strategy

By Frances Ivens2018-12-07T13:49:00

Shaftesbury’s largest shareholder, Hong Kong billionaire Sammy Tak Lee, has written a letter to the company’s legal counsel criticising its acquisition financing strategy.

Tak Lee disparaged Shaftesbury’s gearing, which stood at 22.8% at the end of September, and questioned the prices it had paid for “non-strategic” acquisitions.

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