The Scottish Radio Holdings Group (SRH) shelved takeover talks with interested parties today, blaming recent weaknesses in the UK stockmarket.
The decision to “temporarily dicontinue” talks followed the conclusion of a strategic review of the company undertaken in conjunction with its advisers Goldman Sachs International.The review highlighted the need to clarify the intentions of Scottish Media Group (SMG) who recently acquired a 29.45% stake in SRH.
SMG has been acquiring shares in SRH since a governmental decision last year to relax the regulations governing radio station ownership (see Scottish Media Group Makes Further SRH Acquisition). Speculation of a takeover bid grew as SMG increased its stakes in SRH.
Shares in SRH had fallen 157˝p to £10.75 today with SMG shares following suit with a loss of 12p to £2.04½.
Scottish Media Group: 0141 300 3000 Scottish Radio Holdings: 0141 306 2242
UK media shares are monitored and listed daily in MediaTel Newsline’s Sharewatch
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