Carlton Communications has lost millions of pounds on the sale of its Technicolor production business to Thomson Multimedia (see Carlton Shareholders Approve Sale Of Technicolor), after shares in latter have fallen by more than a third since the deal was agreed, a report in the Sunday Telegraph claims. This affects Carlton’s proceeds from the disposal as 15.5 million Thomson shares were to be issued to Carlton as part payment for the Technicolor business.
AFX News this morning quoted a spokesperson for Carlton as saying that it is not concerned about the day to day volatility of Thomson’s shares, as the they cannot be sold by Carlton until next March in any case.
By 1:00pm today, Carlton’s stock was down ½p at 313¾p.
