US telecommunications large Liberty Global is prone to be ‘searching for alternatives’ to dump its remaining stake in British broadcaster ITV, an analyst has mentioned.
Karen Egan, head of Enders Evaluation, informed The Mail on Sunday it was ‘probably’ that Liberty would wish to promote the remainder of its holding in ITV to pump money into different belongings in its empire.
A core focus is the group’s broadband enterprise, which features a 50 per cent stake in Virgin Media O2, Britain’s second-largest web supplier.
‘It is fairly potential it’ll promote the remaining stake,’ Egan mentioned of the ITV holding, although she famous Liberty would want to attend 60 days earlier than promoting extra of the enterprise. She added: ‘It won’t essentially promote instantly after that – it’s going to need to gauge market urge for food. However I count on it’s going to be searching for alternatives to promote.’
Promote-off: Liberty Global is prone to be ‘searching for alternatives’ to dump its remaining stake in ITV
Final month, Liberty reduce its stake in ITV – whose shares are down virtually 15 per cent up to now six months – from 10 to five per cent, raking in £140 million.
The US large has owned a stake since 2015 however mentioned it was offloading half to spend the money on different components of its portfolio with extra development potential. A shake-up is predicted after Liberty’s chairman John Malone, 84, introduced he would step down.
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