So what is Quindell really worth? Probably not 0p but it could be

Tom Winnifrith Monday 20 July 2015


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Shares in the biggest stockmarket fraud for 30 years, Quindell (QPP), are currently suspended at 124p valuing it at around £625 million on a fully diluted basis. But what is it actually worth? Some brokers are marking it down to 0p because of the suspension but it is probably not worth 0p – thanks to the folly of the Aussie prats at Slater & Gordon – but it might just be.

Slater & Gordon paid £647 million for nearly all of Quindell’s businesses. That came in very handy as Quindell was technically insolvent without that cash. The deal has helped to crater S&G’s share price as it grotesquely overpaid for businesses that have simply never generate cash. I have S&G down as one of my top ten shorts for summer – see HERE.

But what of Quindell? 

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About Tom Winnifrith
Tom Winnifrith is the editor of When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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