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M&S share furore

Why is there such a fuss over share deals in Marks & Spencer and what does it mean for the retailer? Caroline Merrell assesses the evidence

Many people bought shares in Marks & Spencer in the days before Philip Green announced his bid. What is the problem with Stuart Rose and Michael Spencer being among them?

There are allegations that Stuart Rose, now the chief executive of M&S, and Michael Spencer, the chairman of ICAP and one of the richest men in the City, bought shares knowing that Philip Green was going to bid for M&S. Such an offer would be likely to lead to a large rise in the price of M&S shares.

Mr Rose and Mr Spencer deny those claims.

They say that their share purchases were made before Mr Rose knew that Mr Green was going bid, although Mr Rose had been called to a meeting with Philip…

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