25th Jul 2015 16:56
LONDON (Alliance News) Pearson PLC confirmed on Saturday it is talks to sell its 50% stake in the Economist Group, just two days after it announced the sale of the FT Group, which includes the Financial Times, to Japanese media group Nikkei Inc for GBP844 million.
Pearson made the announcement following a report by CNBC that the company was in negotiations to sell the stake, which was not included in the deal to sell the FT Group, to other shareholders in the Economist, citing people familiar with the situation.
The report suggested the stake would be worth about GBP400 million.
"Pearson confirms it is in discussions with The Economist Group board and trustees regarding the potential sale of our 50% share in the group. There is no certainty that this process will lead to a transaction," said a spokesperson for Pearson in an emailed statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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