Bid Rumours Continue To Circulate For Express Group Takeover

A new contender has emerged for the take-over of United News and Media’s (UNM) Express newspaper group. Indian conglomerate the Hinduja Group has issued a statement saying that it is interested in making a bid. An offer, rumoured to be around £100m, is expected to appear within the next few days.

UNM is already thought to have turned down an offer from Press Holdings, owned by the Barclay Brothers. Meanwhile, a conglomerate backed by venture capitalists 3i and HSBC bank and including former Mirror chief executive David Montgomery (see Montgomery Resigns From Mirror Group), is also said to be preparing a bid.

At midday today, shares in UNM were down 2½p at £7.32½.

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