FTSE dream in tatters for NMC founder BR Shetty | Financial Times:
For almost five decades, Indian businessman BR Shetty has represented the ultimate expat dream.
Arriving in Abu Dhabi two years after the formation of the United Arab Emirates, he built two businesses that would elevate him into the pantheon of global billionaires after they listed on the London Stock Exchange.
Now, FTSE 100 healthcare provider NMC Health and Finablr, the financial services group that owns currency provider Travelex, are facing a battle for survival, after a string of problems that have not only diminished the wealth and reputation of 77-year-old Mr Shetty, but dealt a damaging blow to London’s financial market.
In the latest twist, NMC on Monday revealed that the shareholdings of Mr Shetty and his two Emirati partners, Saeed al-Qebaisi and Khalifa al-Muhairi — known locally as the bin Buttis — had been misreported.
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