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George Soros Stands To Gain Millions From His Purchase Of MF Global Bonds
Posted By admin On December 15, 2011 @ 4:42 am In Money Watch | Comments Disabled
The Blaze 
December 15, 2011
Remember when The Blaze  reported that George Soros’ family fund bought $2 billion worth of MF Global’s European bonds?
At the time we reported:
…When MF Global filed for bankruptcy, the firm sold part of the bonds but still had about $4.8 billion worth of them on its books, CNBC  reports.
They were turned over to KPMG, MF Global’s bankruptcy administrator in London; they were then offered to big investors by MF Global’s London clearing house, LCH Clearnet, the Journal said, quoting a KPMG spokeswoman.
When KPMG offered the bankrupts firm’s European debt to a variety of big investors, most of them passed. However, they were able to find one investor willing to buy the bonds at rock-bottom prices: George Soros.
A spokesman for Soros declined to give details about the company’s positions and why it decided to buy the bonds.
“While our firm is always in the market, we have a policy of not disclosing details of our positions,” the spokesman told the Wall Street Journal.
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URLs in this post:
 The Blaze: http://www.theblaze.com/stories/george-soros-stands-to-gain-millions-from-his-purchase-of-mf-global-bonds/
 The Blaze: http://www.theblaze.com/stories/stories/scavenging-soros-market-speculator-buys-up-2-billion-of-mf-globals-debt/
 CNBC: http://www.cnbc.com/id/45610428
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