27th Feb 2014 13:41
LONDON (Alliance News) - TVC Holdings PLC said Thursday that it had sold 7.6 million shares in broadcaster UTV Media for EUR22.1 million.
The investment holding company took an 18% shareholding in the company in 2008 for EUR27.3 million. Following the transaction TVC retains a 10.05% interest in the company, a shareholding value of EUR29.2 million based on UTV's closing share price on February 26.
Shares in TVC were trading up 8.7% at 73.35 pence Thursday morning. Shares in UTV were trading down 3.1% at 241.25 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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