Mergers and Acquistions News
Categories: Media & Information Services
November 3rd 2008, 15:04PM
The Independent News and Media (INM) group has not held talks about a possible takeover, the firm has stated.
Following reports over the weekend that the Daily Mail had been approached about a possible deal, INM has sought to clarify its position, reports Reuters.
Speaking to the news provider, a spokesperson for the group explained that the Independent and its Sunday sister title will be sharing some services with other UK publishers to cut costs, but that this was all.
He said: "The only discussions under way with UK publishers are in connection with shared services."
The denial follows a report in the Observer yesterday which suggested that the Daily Mail and General Trust was considering a bid for its rival's newspapers.
A representative of the Daily Mail group has also denied any intention of making such an acquisition.
On Friday, INM revealed that it has received a number of unsolicited expressions of interest as regards its 39.1 per cent shareholding in Australian firm APN News and Media.
According to INM it is considering its strategic options and has informed APN of its intentions to explore chances to monetise its shareholding.
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