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Report Calls For Sale Of Irish National Stud

Thursday, 21st April 2011

In Ireland overnight "an influential report has recommended that the state-owned Irish National Stud be sold off" reported racingpost.com. The "shock call was made by economist Colm McCarthy, who was asked to investigate the possible disposal of a number of state assets ranging from transport & energy companies to horseracing & bloodstock identities". Although concluding that the Irish National Stud was solvent, the McCarthy report said: "There is a limit to how long the company can continue to trade at a loss" (as it did for 7 out of 8 years between 2002-2009). Irish National Stud chief executive John Osborne "vowed to fight for the stud's future & argued that the current economic conditions would prevent it from selling for an optimum price".

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