Bear trappers

Sunday 27 December 1992 00:02 GMT

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THE Stock Exchange is investigating an apparent bear raid on the shares of Merivale Moore, the troubled property group that revealed a loss of pounds 13m in the year to June. An announcement was sent to the press and the Exchange late on Wednesday, saying receivers had been appointed. However, the hoax was spotted and the announcement was not put out. Merivale says it continues to have the support of its bankers.

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