Last updated: November 7, 2012 11:43 pm

Investors gain some advantage in share buybacks

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From Dr Mark Lomas.

Sir, Christopher Halburd (Letters, November 6) forgets the small investor.

My mother has a small inherited portfolio that she has been liquidating very slowly. If she sold on the open market, transaction fees would eliminate any value. Every so often there is either a buyback or a takeover, neither of which has a transaction fee. I will exaggerate to make the point: if somebody held one share in each of 100 companies, how might they sell those shares at close to market price?

Mark Lomas, St Albans, Herts, UK

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