Business

Daisy's founder picks up £81m

11 April 2012

A business telecoms company backed by Sir Philip Green when it was launched two years ago is coming to AIM, turning its founder into a multi-millionaire.

Matthew Riley, founder of Daisy, won a competition that gave him an interest-free loan, and mentoring from Green. Today he will collect £30 million in cash and £51 million of shares as his firm Daisy is reversed into AIM-listed Freedom4.

Riley become chief executive of the enlarged business which was once known as Pipex and will be renamed Daisy.

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