Future In Investment Talks, Reports Reuters
Embattled magazine and internet group, Future Network, is in talks with potential financial investors, according to reports from Reuters today. The news agency says that Electra Partners and Duke Street Capital are separately considering bids of between £80 million and £100 million.
Future has declined to comment and it is thought that the talks are still in the preliminary stages. Future’s market capitalisation has plummeted in recent months as shares tumbled and it was forced to close down some of its activities (see Future Network To Cut 140 Jobs In Cost-Cutting Restructure).
Future’s current market cap is a shade under £70 million. Shares were unchanged at 48žp today. This is vastly down on the stock’s 52-week high of 741½p, exactly one year ago.
