Canary Wharf keeps FTSE 100 place by delaying news of tenancy leasing deal

From: Scotland on Sunday | Date: March 16, 2003| Author: | Copyright information

CANARY Wharf would have been expelled from the FTSE 100 index after its catastrophic share slide last week if it had not controversially delayed revealing that tenants can return 650,000 sq ft of office space to the property company.

The developer's shares were 231p on Tuesday night - the figure used for calculating which companies remain in the index. At that price the group was valued at GBP 1.36bn, putting it safely inside the top 100 quoted companies.

But when Canary Wharf, led by the chief executive George Iacobescu, disclosed the put-option on the leases on Wednesday morning, its ...

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