|
|
Article: Akers in anguish over EuroTelecom Chris Akers had the Midas touch, but the collapse of EuroTelecom has left him battling to save his reputation. Richard Fletcher and Grant Ringshaw report
- Article from:
- The Sunday Telegraph London
- Article date:
- March 4, 2001
- Author:
CopyrightCopyright 2001 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
|
If anyone has come to typify the new generation of entrepreneur
it is Chris Akers. The former City analyst, who floated Leeds United
before bringing a series of success stories to the market, has
developed a substantial "fan club" of wealthy investors. Only a few
months ago just his name in a company prospectus was enough to
guarantee a successful float and a soaraway share price.
But Akers has had a gruelling fortnight. Nine days ago
EuroTelecom, which he chaired, collapsed just 11 months after it
floated and raised pounds 17m - largely on the back of his track
record.
When the company came to the market it was 100 or so "friends of
Chris" who bankrolled EuroTelecom, putting up pounds 12m ...