It has been widely reported that Granada is to make a takeover bid for YTTV some time in the very near future. However, Granada has now indicated that it would not be making any moves in this direction for at least three months.
YTTV released its final results on *Profits Soar For Yorkshire Tyne Tees. Its chairman, Ward Thomas, said that any bid for the group would have to be pitched at at least £17 per share. Granada is rumoured to have set a limit of £13.20 per share; paying any more than this would mean Granada eating into its own earnings.
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