Bertelsmann 'prepared to reduce RTL stake'

German media giant Bertelsmann is mulling a sale of its 90.3% holding in RTL, owner of Five.

CFO Thomas Rabe said Thursday that the family-owned business would be prepared to reduce its stake in RTL to 75%, a move that would raise an estimated £1.5 billion.

It has been speculated that Bertelsmann is keen to acquire a stake in ITV, after the government ordered BSkyB to reduce its 17.9% stake in ITV to below 7.5%. BSkyB is in the process of appealing the ruling.

Rabe's comments helped lift ITV shares 6.4% to 44.8p by close of trading on Friday.