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The Independent Online

Philip Green's friends are a lucky bunch. Three of them - Tom Hunter, Michael Spencer and Stuart Rose (among Britain's richest men) - made enormous profits when their pal made a bid to take over Marks & Spencer. They shortly before bought huge numbers of shares in the company. All three deny knowledge of Mr Green's imminent bid, of course, but the Financial Services Authority has launched an investigation. Whether these men are found guilty or not, it was hardly a wise move by any of them. The impression, even if wrong, that this group of wealthy men have abused their position will not be easily expunged.

Philip Green's friends are a lucky bunch. Three of them - Tom Hunter, Michael Spencer and Stuart Rose (among Britain's richest men) - made enormous profits when their pal made a bid to take over Marks & Spencer. They shortly before bought huge numbers of shares in the company. All three deny knowledge of Mr Green's imminent bid, of course, but the Financial Services Authority has launched an investigation. Whether these men are found guilty or not, it was hardly a wise move by any of them. The impression, even if wrong, that this group of wealthy men have abused their position will not be easily expunged.

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