A day after its well received results Pearson, the group behind the FT and Penguin books, has found itself in the uncomfortable position of having a controversial investor buying more shares.
According to a statement just issued, Pearson believes the Libyan Investment Authority - which was known to be the owner of 24.4m shares in the company - has acquired another 2.1m shares to take its total stake to 3.27%.
In the light of UN and UK resolutions and sanctions, and after taking legal advice, Pearson said the Libyan shares are effectively frozen. So, Pearson will not register the transfer of shares nor pay any dividend on them. No payout for Colonel Gadaffi from Pearson then.....
