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Beecroft criticises Pinewood deal

Share profit only tells part of the story

South Douglas MHK Kate Beecroft says the money being made from government's shares in Pinewood only tells part of the story.

She's been commenting after it was announced the film studio is to be bought by an American investment firm for around £320 million.

Treasury Minister Eddie Teare says the share price has more than doubled since they were purchased, netting the Manx government significant profits.

If it goes ahead, the Isle of Man Government would be entitled to receive 563 pence per share.

Treasury's investment advisers currently hold over £2 million Pinewood shares - valued at around £11.2 million.

Mrs Beecroft says that's all well and good, but the shares should not be looked at in isolation.

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