Hi
It's the debt carried and the refinancing of it.
Institutions can't afford to take the risk, however small that the credit crisis may get worse and MFS could be one of the affected atocks.
CIY have a similar debt but I am sure the merger arrangement has a lot to do with making the Coys more appealing from the debt point of view.
Overall the merger probably does not help much and so the sell-off continued again today.
The institutions do not want the exposure and want to get out and until they are there will no sense in the trading.
CIY hardly had any turnover today and that reflects the Mum's and Dad's view of the debt, compared with the institutions that are in MFS.
Hopefully some sense will come into it sooner rather than later.
MFS
mfs limited
