City File: Magic carpet

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IN THE dark days of its management buyout in 1988, MFI still found time to buy 22 per cent of the ordinary shares and 50 per cent of the 'B' preference shares in Carpetright, the carpet retailer. The whole deal cost MFI pounds 1m. This summer, Carpetright will come to the market with a pounds 50-100m price tag and a huge profit for MFI.