Phone Call re Ferrovial Shares BuyBack

Chloe_G

My elderly mother answered a phone call from someone saying they were authorised to buy back Ferrovial shares which she might know as BAA shares.  She just put the phone down.  She's had calls like this before regarding other shares.  I googled Ferrovial and found some information about a buy back but is this a scam and how does it work and where do they get your contact details from?  (My late father may have had BAA shares a long long time ago but my mother doesn't think she still has them anyway.)

Linton

A scam. No-one genuine is going to phone thousands of small shareholders to in order to buy a few shares.  The next step is perhaps to offer a silly price on payment of an admin fee.

jaypers

Scam…..always a scam when you get a call. Look after your Mum and make sure she never trusts anyone calling her who she doesn’t know. Sad state of affairs but that’s the world now. 

wmb194

Chloe_G said:

My elderly mother answered a phone call from someone saying they were authorised to buy back Ferrovial shares which she might know as BAA shares.  She just put the phone down.  She's had calls like this before regarding other shares.  I googled Ferrovial and found some information about a buy back but is this a scam and how does it work and where do they get your contact details from?  (My late father may have had BAA shares a long long time ago but my mother doesn't think she still has them anyway.)

As others have already written, it's a scam, don't talk to them. BAA was bought in an all cash deal in 2006 so your mother definitely doesn't own them anymore.

They get names and addresses from old share registers, in this case BAA's. Your mother and late father must hold or have held BAA and other company shares in certificated form.

Mr.Generous

Yes scam, lots of ways to do it when you think about it. 

Offer a high price for the shares because of a "secret takeover" or some such bull, then if they can't find the certificates wow, what a shock they can get replacements for only £175 + vat which they will re-emburse when they buy them off you but you have to pay first ... or if they CAN find the certificates some kind of transfer fee which they will re-emburse after the purchase, which coincidently happens to be £175 + Vat

Alternatively if you want to keep the shares as they will be worth much more after the takeover they can update the share register for you for a fully refundable and very reasonable fee of .... let me guess

I actually know someone who fell for it even after I warned them, they had real shares from a work sharesave scheme - they sent away the certificates plus a fee because of the secret buy out ... and shock horror, they never got a penny and the shares were transfered to someone else.

boingy

Tell your mother I'll pay 10% more than the scammers are offering, although I will need her to lend me £300 for my bus fare.

But seriously, congratulate her for having the nous to hang up the phone. It's hard for them to scam you when they can't talk to you.

Albermarle

She just put the phone down.  

The best strategy !

Chloe_G

Thanks all!

PaulTheSkier

I've been contacted by telephone by someone purporting to be from STEWART & WILLIAMS CORPORATE GROUP LLP/ STEWART AND WILLIAMS CORPORATE GROUP LLP of New York about a holding in Ferrovial as a result of a holding in BAA/LHR in the name of my late wife and have had an e-mail from them asking me to sign a non-disclosure agreement. I've not done so but have e-mailed them back asking a load of questions. I'm also aware of the warning about Stewart and Williams issued by the Financial Conducts Authority and I'm also puzzled as to why they haven't mentioned my identical holding.

I'll keep you informed.

IanManc

Chloe_G said:

My elderly mother answered a phone call from someone saying they were authorised to buy back Ferrovial shares which she might know as BAA shares.  She just put the phone down.  She's had calls like this before regarding other shares.  I googled Ferrovial and found some information about a buy back but is this a scam and how does it work and where do they get your contact details from?  (My late father may have had BAA shares a long long time ago but my mother doesn't think she still has them anyway.)

I admire your Mother's presence of mind in putting the phone down.

An alternative method, where I've had scam / unwanted charity / unwanted sales calls asking for me by name is to tell them that I've died.

They are always keen to update their database and never call again - because who would want to waste time ringing a dead person?

I always brush off expressions of condolence by telling them that I didn't know me and I'm just there clearing the house.  

It's never failed me yet.

LHW99

An alternative method, where I've had scam / unwanted charity / unwanted sales calls asking for me by name is to tell them that I've died.

That made me smile, as I remember my late mother's reaction when she got yet another double glazing salesman phone her (they were bad in the 80's) wanting to speak to her mother who had recently passed on.

"Oh, you want to speak to Mrs ***? I'll just open her coffin and see what she thinks - pause -  no she's not answering I don't think she's interested."

She didn't get any more cold calls afterwards.