Claims made by the Observer yesterday that Mirror Group Newspapers were trying to enlist investors to buy a 25% stake in the company were denied in today’s press by MGN.
There has been speculation about a consortium ever since rumours that Arthur Andersen was to sell its 54% stake in MGN several months ago.
The article also claimed that Associated Newspapers, publisher of the Daily Mail, Mail on Sunday and the Evening Standard was to buy a share of Newspaper Publishing, owner of the Independent and the Independent on Sunday. Andreas Whittam Smith yesterday denied this, saying that ‘The board has received no proposal from Associated Newspapers and neither have our financial advisers.’
It was reported that Associated Newspapers had been in talks with Carlo de Benedetti, head of Olivetti. Benedetti had also been suggested as a possible investor for Mirror Group Newspapers in the same article.
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