>Journalists covering stories about UK companies using tax havens like Caymans were not
>aware of how deal had been done.
The 'deal' was apparently done by GMG creating a company called GMG Hazel Acquisition 1 Ltd. in the Cayman Islands to conduct it's financial dealings with a private equity company when they bought Emap. Journalists were 'not aware' because the actual structure of the deal was obfuscated by the creation of multiple shell companies in the Caymans and a holding company in Luxemburg. The whole thing got a bit messy after The Gruinaud ran an article accusing Tesco of using the Cayman Islands for tax avoidance in it's property dealings. Tesco sued GMG and questioned GMG's own use of the Caymans. GMG eventually printed a front page apology and paid damages in an out-of-court settlement.
www.theguardian.com/media/2008/may/03/1
www.campaignlive.co.uk/article/guardian-apologises-pays-damages-settle-tesco-tax-case/846169
As has been said, all perfectly legal of course but trying to imply that The Guardian is somehow superior to other media organisations is complete horseshit. They are ALL the same and The Guardian is no better or worse than the rest.
The really sad thing is the number of people who will only read outlets that reinforce their own opinion.
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