27th Apr 2016 14:52
LONDON (Alliance News) - Sky News reported Wednesday that Pearson PLC is exploring the sale of its GlobalEnglish Corp business, less than four years after it bought it, as part of a wider restructuring of the business.
Pearson bought GlobalEnglish in 2012 for USD90 million. It is unclear why Pearson has now decided to sell this business, the Sky News report said, but its sources suggested Chief Executive John Fallon had decided it was not core to his turnaround efforts.
http://news.sky.com/story/1686190/pearson-finds-language-gap-with-unit-sale
GlobalEnglish provides cloud-based business-English education products.
A spokesperson for Pearson declined to comment to Alliance News.
Shares in Pearson were down 0.1% at 804.50 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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