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BUZZ-ITV hits 13-1/2 year high on bid speculation
September 1, 2014 / 12:26 PM / 3 years ago

BUZZ-ITV hits 13-1/2 year high on bid speculation

** Broadcaster ITV is the third best performing stock on Europe’s Stoxx 600.

** Talk of a takeover from Virgin Media owner Liberty Global sends ITV’s shares to highest since Jan 2001.

** Speculation fueled by report in The Telegraph saying Liberty canvassing support from major ITV shareholders following its acquisition of a 6.4 percent stake.

** ITV declined to comment on the rumours.

** Liberium notes a bid would have to take into account an anticipated rule change involving retransmission fees.

** Currently regulations stop ITV from charging retransmission fees - potentially pure profits - for its biggest channel ITV1. (RM://tricia.wright1.thomsonreuters.com@reuters.net; sarah.young.thomsonreuters.com@reuters.net)

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