27th Jul 2015 05:19
LONDON (Alliance News) - Responding to speculation, British publishing and education company Pearson PLC on Saturday confirmed it is in discussions with The Economist Group Board and trustees regarding the potential sale of its 50% share in the Group. There is no certainty that this process will lead to a transaction.
Pearson noted that it will make further announcements if and when appropriate.
There were reports that Pearson is in talks to sell its 50% stake in the Economist Group, which publishes the Economist magazine. The Financial Times reported that Pearson's stake in the Economist may be worth about 400 million pounds.
Earlier this week, Pearson had announced that it agreed to sell the Financial Times Group to the Japanese media company Nikkei Inc for USD1.31 billion in cash. The deal is expected to close during the fourth quarter of this year.
Copyright RTT News/dpa-AFX
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