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

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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)

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