Media

Investment firms considering ITV bid?

Published Monday, Feb 4 2008, 14:38 GMT | By Dave West
Investment firms considering ITV bid?
Three private equity firms are considering a buyout of ITV, according to a report.

According to The Observer, Apax, Kohlberg Kravis Roberts and Provident are considering a buyout either separately or in partnership.

They are said to be considering an offer of 100p a share. It comes after the value of ITV plc shares has fallen from 160p three years ago.

The company took another knock last week when the Government confirmed it wanted Sky to sell more than 10% of its stake in ITV.

However, Ofcom and the Office of Fair Trading also announced they would review its contract rights renewal system, which governs the amount advertisers must pay ITV on an annual basis.

The buyout rumours fuelled a rise of about 4% in ITV's share price this morning.

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