Liberty Global courting ITV’s major shareholders, prompting talk of takeover bid
Liberty Global is rumoured to be courting shareholders in ITV ahead of a possible takeover bid for the listed UK-based television broadcaster, The Sunday Telegraph reported. The newspaper cited City sources who said Liberty, a listed Colorado-based media group controlled by John Malone, is probably trying to enlist support for an offer that would not include a substantial premium to ITV’s share price.
Liberty acquired a 6.4% stake in ITV this summer, the article noted.
ITV’s large shareholders include the fund managers BlackRock, with a 4.9% stake; Brandes, with 4.8%; and Fidelity, which owns close to 8%, the item noted.
There was no comment from Liberty Global, according to the newspaper.
ITV’s share price closed 0.8p down at 211.2p on Friday, 29 August, giving the company a market capitalisation of GBP 8.50bn (EUR 10.74bn).
Source Sunday Telegraph