Sharewatch: C&W Declines As Takeover Abandoned
Cable & Wireless was seen in focus after Hong-Kong based telecoms group, Pacific Century Cyberworks halted its attempted takeover of the group (see Cable & Wireless Subject Of Takeover Speculation), as many analysts had predicted. The stock was seen down 0.77%.
Elsewhere, Scottish Media Group was in focus on reports that the chief executive of the group’s publishing arm, Des Hudson, is set to step down. Speculation suggests that he could lose his job when the company completes the £216m sale of its newspapers to US giant Gannett. The stock was seen down 1.4% yesterday.
Meanwhile, BSkyB was in focus after Labour MPs reportedly backed a motion criticising plans to regulate charges levied on public service TV channels by the group. The stock was seen down 1.79%.
The closing prices of media company shares on Tuesday were:
