ITV sells Thomson stake | |
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22-09-2004
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UK commercial television broadcaster ITV is selling its 5.5 per cent stake in French firm Thomson in its latest move to cut debt by selling non-core assets. ITV said in a statement on it had agreed to sell its 15.5 million shares in technology group Thomson to investment banks Citigroup and UBS. "We're delighted to have disposed of our largest non-core asset sooner than expected at a five month high and reduced our borrowings by E258 million," ITV CEO Charles Allen said in a statement. ITV said the book value of the stake was E243 million. | ||
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