Sharewatch: Carlton And Granada Rise On Merger Speculation
ITV partners Carlton and Granada were in the spotlight again yesterday after rumours that their £4 billion merger will be allowed to go through without the double divestment of their sales houses. The stocks were seen up 9.17% and 5.37% respectively.
The outcome of the merger will be announced later today and analysts claim it will face mostly behavioural restrictions as the Government is keen to create a serious counterweight to BSkyB and the BBC. It is believed that such a bid is less likely if the Government gives the market what it wants – a financially viable ITV.
Elsewhere, BSkyB was seen in focus, down 0.23% after selling off its stake in Manchester United Football Club for a reported £62 million.
Broader market sentiment remained mixed yesterday as traders and analysts busied themselves with a variety of blue sky theories over the likely outcome of the Carlton and Granada merger.
The closing prices of media company shares on Monday were:
