Mirror Group stock shines as suitors reflect on bids

Article Abstract:

Mirror Group PLC, a UK-based newspaper publisher, has seen its stock rise after Germany-based Axel Springer Verlag announced that it plans to make an offer for Mirror Group. The stock of Mirror Group, the third-largest newspaper group in Britain, UK, climbed to 243.5 pence, or $3.97, up 25.5 pence, on volume of 3.3 million shares. Mirror Group said in a statement that it is waiting for clarification of Axel Springer's proposal. Meanwhile, Mirror Group would pursue negotiations with another potential bidder, Trinity PLC, the largest regional publisher in Britain. Derek Terrington, media analyst with Teather & Greenwood, estimates Mirror Group's value at 280 pence a share, or 10 times earnings prior interest, taxation, depreciation and amortization.

Comment:

Announces intentions to make an offer to acquire UK-based Mirror Group

Acquisitions & mergers, Germany, Printing & Publishing, Axel Springer Verlag AG

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C&W Communications stake set for sale

Article Abstract:

Bell Canada International was set to sell a chunk of Cable & Wireless Communications PLC stock worth about 1 billion pound-sterling ($1.63 billion). The sale represents about 14% of the outstanding stock of Cable & Wireless Communications, the UK's largest cable-system operator. The transaction is being handled by Goldman Sachs, who is reportedly offering the shares for about 475 pence apiece. Bell Canada, which was tempted by the stock's soaring value, will use the proceeds to repay debt and invest in core businesses.

Comment:

is set to sell its stake in Cable & Wireless Communications PLC worth about 1 billion pound-sterling

Canada, Cable Television Systems, Cable Networks, Engineering Services, Cable television broadcasting industry, Cable television, Bell Canada International Inc., Cable & Wireless Communications PLC

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Mirror to sell TV interest in refocusing

Article Abstract:

Mirror Group PLC is selling its share of Scottish Media PLC. Mirror owns an 18.6% share of Scottish Media. Mirror made its decision to sell its shares of Scottish Media as a takeover battle for the company takes place. Mirror's Scottish Media shares have a value of 106 million pound sterling ($171 million). The three major commercial television franchise owners in the UK are expected to express great interest in the shares.

Comment:

Mirror Group to sell its 18.6% share of Scottish Media

United States, Strategy & planning, Planning, Abstract, Scottish Media Group PLC

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