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Carillion Crisis: Hedge Funds Rake In Tens Of Millions

(The Guardian) Hedge funds and other financial speculators have made tens of millions of pounds by quietly betting that Carillion would run into financial distress.

Short-sellers, who make money by gambling that a company’s share price will fall, have been targeting the company since early 2015, but the number of bets reached a peak just before a profit warning last July that signalled the scale of its problems and sent its shares tumbling.

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