CNBC: Soros Bought $2 Billion Ex-MF Global Europe Debt: Report
CNBC ^ | 12-9-11 | Antonia Oprita
About $2 billion worth of European bonds owned by MF Global were bought by billionaire investor George Soros's family fund, the Wall Street Journal wrote on Friday, quoting people close to the matter.
On October 31 MF Global collapsed into the eighth-largest bankruptcy in U.S. history and an estimated $1.2 billion in client funds remains unaccounted for.
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hey were turned over to KPMG, MF Global's bankruptcy administrator in London; they were then offered to big investors immediately after the company's collapse by MF Global's London clearing house, LCH Clearnet, the paper said, quoting a KPMG spokeswoman.
A number of large investors passed on the bonds but, according to people close to the matter quoted by the Wall Street Journal, Soros's interest was piqued and he bought around $2 billion of the bonds at a level below the market price at the time.
(Excerpt) Read more at cnbc.com ...
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