The fund manager, Mercury Asset Management, is believed to have been gradually increasing its stake in Yorkshire Tyne Tees Television over the last few weeks. YTTV fears that MAM are preparing to make a takeover bid for control of the company.
YTTV suspects that MAM has been buying chunks of the company through a company called Nutraco. Nutraco has been buying significant numbers of YTTV shares; the ITV company fear that Nutraco is a division of MAM.
YTTV is in danger of attack from all sides. The Granada Group already has a 27% stake in the company and it has stated publicly that it would like to take control of the company when the time is right. Carlton Communications could also buy YTTV and remain within the legal ownership rules.
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