Reed May Lose Out On BSkyB Sale

Reed Elsevier may lose out by as much as £40m when it sells its stake in BSkyB, according to city analysts (Newsline 2/2).

Reports in the Independent on Sunday quote stockbroker James Capel as valuing the company’s stake at £77m, with a further £30.7m in loan stock. As discussions stand, present shareholders – Granada, Pearson and Chargeurs – are not willing to pay more than £45m for the 3.66% cut. A final decision is expected to be reached by the end of this week.