SINGAPORE - The Singapore-registered company that says it is close to buying English soccer club Newcastle United admits it doctored photos of former US President Barack Obama in marketing materials used to publicise the newly formed group.
The company, which says it had a turnover of US$12 billion last year and describes itself in marketing materials as the"world's fastest growing conglomerate", has said on its website and in press releases that it is headquartered in Paris. Hydra X has denied both those claims. The Singapore Exchange has also denied Hydra X is implementing a trading system.
Shen declined to be interviewed for this story. The Loh cousins did not respond to requests for comment. The company grabbed global headlines on Aug 15 when it announced it had submitted a takeover bid for one of England's most high-profile soccer clubs, adding that it had enlisted the help of Newcastle legend and former England captain Alan Shearer as well as another former player, Michael Chopra, in its bid.
Shearer's management told Reuters he was not involved in the takeover bid. Chopra, who on Aug 14 retweeted a picture of himself at the offices of BN Group, did not respond to a request for comment. Singapore-based Hydra X is one of the entities BN Group has said in marketing materials sent to Reuters on Monday is part of its global conglomerate of 23,000 employees.
Hydra X said it had entered"into a joint venture with a related entity" of BN Group to build technology solutions unrelated to financial technology. It declined to name the entity.
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