Pearson seen weighing FT offers; company denies report

Wed Nov 7, 2012 6:39am 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 denied the report. "We have said many times that the FT is a valued and valuable part of Pearson," a company spokesman said. "We are not in the habit of responding to rumors, speculation or reports about our portfolio; however, this particular Bloomberg story is wrong."

A Bloomberg spokeswoman said "we stand by our reporting."

Pearson may initiate the sale preparations ahead of the departure of Chief Executive Marjorie Scardino, Bloomberg reported.

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

Scardino, the first female CEO of an 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 have also been named as possible suitors. A Thomson Reuters spokesman declined to comment.

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 Kate Holton in London and 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

Coal Block Allocation

Coal Block Allocation

Government urges Supreme Court to not cancel some 'illegal' coal mines  Full Article 

Modi in Japan

Modi in Japan

Japan and India agree to boost strategic ties at summit  Full Article 

Basel III Norms

Basel III Norms

RBI amends Basel III guidelines for banks  Full Article 

HSBC PMI

HSBC PMI

Factory activity expands at slower clip in August.  Full Article 

Current Account

Current Account

Balance of payments surplus for third straight quarter  Full Article 

India Infrastructure

India Infrastructure

RBI rule handicaps India's infrastructure hopes  Full Article 

Book Talk

Book Talk

Reema Abbasi and a glimpse of Pakistan’s Hindu past  Full Article 

China Economy

China Economy

Retreat in China's PMIs heightens calls for policy easing.  Full Article 

Managing Share Sales

Managing Share Sales

Govt seeks bids from banks to manage PFC, REC share sales   Full Article 

Reuters India Mobile

Reuters India Mobile

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