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Mystery Moss investor is property developer

The mystery investor who placed a £4 million spread bet on Moss Bros shares rising is property developer Paul Singh.

Singh, who is a property developer and the owner of Beauty Star, a distributor of Afro-Caribbean hair products, was forced to disclose his identity and 8.3% interest in the menswear retailer on Monday under new Takeover Panel rules.

His £4m bet would have remained a secret had Singh not "sold" part of his bet following a rise in the share price amidst speculation about a takeover. The rules require that investors holding derivative positions covering in excess of 3% of a company's share capital to declare their position if they "buy" or "sell" during a takeover period. Baugur is in the process of due diligence following its $30 million indicative offer earlier this year.

Singh, told The Daily Telegraph that the bet had been in place since "2000 or 2001" and that he "hadn't made much money on Moss Bros".

The disclosure has cooled bid speculation in the city.

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