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Man Group Down 5% on IPO Delay

Shares in Man Group fell as much as 8.5% on Friday after a source said the world's largest-listed hedge fund group would delay the public offering of one of its hedge funds and on weakness in financial market.

Man Group was down 5.8%, while Britain's FTSE 100 fell 1.8%, mirroring slides in the U.S. and Asian markets as mounting worries over the crisis in the U.S. subprime mortgage sector jolted equity markets worldwide.

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