ITV’s share price fell to below 50p for the first time yesterday, taking the company’s market capitalisation to below £2 billion for a short time.
This figure is less than half the £5 billion value placed on the company when an attempted takeover was made by Virgin Media’s predecessor, NTL, in 2006 (see
NTL Pulls Out Of ITV Merger).
Earlier this year the government ordered BSkyB to sell the 17.9% stake in ITV it acquired at the end of 2006 (see ITV Share Price Falls After BSkyB Acquires Stake), which was widely seen as an attempt to block a takeover of the company by NTL.
Last year, private equity firm Apax Partners was rumoured to be making a bid for ITV, although no offer materialised (see Market Rumours Suggest Possible Bid For ITV).
Related Links
