Billionaire Jagtiani behind UK shareholder rebellion: Report

Billionaire Jagtiani behind UK shareholder rebellion Report pardesi news 1459247720

A Dubai-based Indian billionaire is reportedly behind a shareholder rebellion at one of UK's major fashion retailers

According to The Sunday Times report,  Mukesh Jagtiani, 63, the Dubai based NRI billionaire and former London taxi driver who now runs a retail empire, is reportedly behind the UK shareholder rebellion at Debenhams, Britain’s major fashion retailers.

Mukesh Jagtiani also has a holding company, Milestone Resources, which has joined hands with Schroders and Old Mutual to demand change at the struggling British department stores. Jagtiani with his two investors own 25% of Debenhams. He was also rumored before the monetary crisis struck, to have had takeover ambitions for Debenhams.

Mukesh is presently sprawling an empire at UK-based Debenhams from the Middle East.  He owns a wealth of around 3 billion pounds, most of it derived from his Landmark Group, which has stores across the Middle East and India.   

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Patrick Callahan

Pardesi News Reporter

Pardesi News Reporter

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