The music group EMI has sold its 13.3% stake in GWR, it was announced yesterday. The stake, worth £81.4 million, was sold to institutional buyers in London to allow the group to concentrate fully on its music business.
Henry Meakin, GWR chairman said: “EMI has been a supportive shareholder in recent years. However, we recognise that investment in the radio industry is not part of their strategy.”
The shares were placed on the stock market at 550p each.
GWR: 0171 284 3000
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