Mean Fiddler’s shares plummet

SHARES in the Mean Fiddler Music Group, the concert promotion business run by Irishman Vince Power, crashed by more than 20% yesterday after the company sacked its new chief executive and pulled out of a planned acquisition.

In a shock announcement to the stock exchange, the company also said a share placing by directors to fund the takeover was also being cancelled.

Mr Power had intended to sell his entire 35% stake in the company as part of a share placing to raise money for the takeover of Media Internet Telecom (MIT) and would have netted €18 million.