The Guardian has announced it is setting up an offshore financing arrangemnt, saying:
Guardian Media Group plc, parent company of the Guardian, in partnership with Apax Partners, has incorporated a new company registered in the Cayman Islands as part of its proposed acquisition of Emap plc.
This is, as they admit, a stamp duty scam. And I like it no more from them than anyone else.
Fine hair splitting won't do on this issue: the Guardian should live by the ethic that it promotes.