Beautiful trading day for U2 shares

IT was a Beautiful Day for U2 yesterday after it was confirmed concert promoter Live Nation had bought back 1.6 million of its shares from the rock band for $25 million (€17.5m).

The sale will leave the promoter with a feeling of Vertigo, as it means the firm must bear a $19m (€13.3m) loss.

U2 Edged their way into the deal, securing a guarantee from Live Nation that the band would receive the $25m for 1.6 million shares as a part of a 12-year agreement.