Phone Call re Ferrovial Shares BuyBack

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.)

Comments

  • jaypers
    jaypers Posts: 654
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    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
    wmb194 Posts: 3,134
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    edited 16 January at 8:11AM
    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
    Mr.Generous Posts: 3,281
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    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
    boingy Posts: 1,173
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    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
    Albermarle Posts: 21,235
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    She just put the phone down.  

    The best strategy !

  • Chloe_G
    Chloe_G Posts: 307
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    Thanks all!
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