Pearson to seek offers to sell Financial Times this year - media report

Wed Nov 7, 2012 2:12am IST

An edition of the Financial Times Deutschland (Germany) is seen at a shop in Frankfurt August 28, 2012. REUTERS/Kai Pfaffenbach/Files

An edition of the Financial Times Deutschland (Germany) is seen at a shop in Frankfurt August 28, 2012.

Credit: Reuters/Kai Pfaffenbach/Files

Related Topics

Stocks

   

REUTERS - Pearson Plc has decided to consider offers for the Financial Times newspaper this year and may seek at least $1 billion, Bloomberg reported, citing people with knowledge of the situation.

Pearson may initiate the sale preparations ahead of the departure of Chief Executive Marjorie Scardino, Bloomberg said. (link.reuters.com/jyb83t)

Scardino last month said she would step down at the end of the year, in a move that could clear the way for the global education and media group to sell the newspaper.

The first female chief executive of a FTSE 100 company had previously declared that the famous pink-paged FT title would be sold "over my dead body".

Potential bidders may include wealthy individuals from Russia, the Middle East or Asia, Bloomberg said.

Bloomberg LP and Thomson Reuters (TRI.N) have also been named as possible suitors.

Pearson has not hired an investment bank, Bloomberg said.

Shares of Pearson closed flat at 1240 pence on the London Stock Exchange on Tuesday. (Reporting by Neha Alawadhi in Bangalore; Editing by Sriraj Kalluvila)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

TCS Results

TCS Results

TCS net profit rises 51.5 percent, sees stronger sales growth.  Full Article | Quote 

Google Results

Google Results

Google Q1 revenue misses Wall Street targets.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Sparking Boom

Sparking Boom

BlackBerry: the crash that launched 1,000 start-ups.  Video 

Telecom Sector

Telecom Sector

RComm to raise mobile call tariff by up to 20 percent  Full Article 

Chinese Economy

Chinese Economy

China economic growth slows to 18-month low in first quarter  Full Article 

Breakingviews

Breakingviews

Diageo throws money at Indian empire-building  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage