The co-owners of Asda, private equity firm TDR Capital, got a grilling before Parliament on Tuesday. They sought to convince the Business and Trade Committee that they were maximally transparent with the business — even though most of their activities are based in Jersey where they don’t have to disclose any accounts.
You will have read from previous Spy newsletters that MPs were upset with the choice of names for some of the holding companies with which they acquired the supermarket, in particular Phantom Investments, which one MP described as an “investment structure that is named something that is synonymous with lies, deception and deceit”.
