The Evil Diaries: “Mirror Mirror, who’d have thunk you’d step right out and talk such bunk?”

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The Evil Diaries: “Mirror Mirror, who’d have thunk you’d step right out and talk such bunk?”
No sooner had our earlier piece on Trinity Mirror (TNI) been published than Mirror rushed out an RNS which, no doubt, was intended to reassure. It does not.

The provision for phone-hacking damages is now increased from £12m to £28m and Mirror advise that they are considering seeking permission to appeal. A lawyer tells me that judges do not judge trivially and that therefore seriously seeking to appeal is like heading the charge of The Light Brigade. Some will remark that all that is in point is law and not a review of facts. Don’t you believe it: this sort of appeal entails rows of QCs. So, unless Mirror are completely mad, they’ll drop this line of defence.

Anyway, the shares are only down 6p so far and, clearly, have much further to fall.

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