SMG has bought a further 1.9% stake in Scottish Radio Holdings, its fourth acquisition of SRH stock since December last year and its second in under a week (see SMG Takes Further Stake In Scottish Radio). The 615,667 ordinary shares cost SMG 1,595p each, giving the deal a total value of £9.8 million.
SMG now owns 24.9% of Scottish Radio and a takeover move is thought to be on the cards.
At 1:00pm today SRH and SMG shares were both unchanged at 1,595p and 238½p respectively.
