One of the largest shareholders in the troubled MFS group has described the sale of the company's Stella Tourism business as the scandal of the year.
Chris Scott, who owns 42 million MFS shares, is calling for an extraordinary general meeting to stop the sale of Stella to CVC.
He says the private equity group is picking up the company, which includes the Harvey World Travel chain, for a little over $1 billion, even though it cost MFS double that amount to set up.
Mr Scott has told the Australian Financial Review that he wants the MFS constitution to be changed to stop the sale of Stella.
He claims other people, besides CVC, are interested in the business.
MFS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
