Sharewatch: Capital Falls On Choice Acquisition
Capital Radio was seen in the spotlight, down 1.93% following the announcement that it is to buy London radio group, Choice FM, for around £15 million. Capital already owns 19% of the Choice group, which it acquired in September 2001 for £3.3 million (see Capital Radio Takes Choice FM For £15 Million).
Elsewhere, the Hollinger International fiasco continued to dominate market speculation, following reports that Richard Desmond, publisher of the Express newspapers, has put together a bid for The Telegraph (see Desmond Puts Together Bid For Telegraph Titles).
Broader market sentiment was weak yesterday as the Euro hit all time highs against the dollar and the possibility of a trade textiles war between the US and China looked likely.
The closing prices of media company shares on Wednesday were:
