LWT’s attempts to attract a foreign investor to help it ward off the threat from Granada have failed. The Takeover Panel is understood to have refused permission for US West to take a stake of 29.9% in LWT.
On Friday Michael Heseltine, trade and industry secretary, ruled that the bid could proceed without the need for an Monopolies and Mergers referral, providing undertakings came from Granada to reduce the concentration of airtime sales. The Office of Fair Trading is this week investigating the issue and Granada has already agreed to comply with whatever ruling is made.
Media Jobs
Hello. We have downloaded cookies on your device. Some of these cookies are essential for the website to function. Others are non-essential and are used for analytics and advertising.
We need your consent for these types of cookies.
To withdraw your consent or change your cookie choices, please do this through your browser settings.
Otherwise, click OK to accept and continue.
