Will Itv Back Break-Up of Smg?Alli Consortium Hopeful That Broadcaster Will Give Support

The Herald › February 16, 2005

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Summary

TALK of a break-up of SMG increased yesterday as City sources suggested that ITV's willingness to meet Lord Waheed Alli to discuss his [pounds]100m bid for Virgin Radio, an SMG subsidiary, was tacit recognition that the broadcaster is interested in his proposal.

ITV, the biggest shareholder of Glasgow-based media group SMG with a 17per cent stake, is due to meet Alli and 3i, his private equity backer, within the next 10 days.

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Will Itv Back Break-Up of Smg?Alli Consortium Hopeful That Broadcaster Will Give Support

A well-placed source said last night: "The fact that they (ITV) are happy to meet would imply they are happy to hear what the consortium ...

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