Pearson said to be mulling sale of Financial Times
Shares in publisher Pearson reversed earlier losses to trade higher following a media report that it is exploring the sale of the Financial Times after receiving interest from potential buyers.
FTSE 100
8,313.67
17:14 07/05/24
FTSE 350
4,570.66
17:14 07/05/24
FTSE All-Share
4,522.99
16:54 07/05/24
Media
12,167.44
17:14 07/05/24
Pearson
997.60p
16:34 07/05/24
According to Bloomberg, which cited people familiar with the matter, Pearson is sounding out bidders for the paper and a sale could value the business at as much as £1bn.
Although there is no formal process under way, the FT could draw interest from media companies such as Axel Springer SE and investors in Europe, the Middle East and Asia.
Talks of a disposal have been on and off for years, but are said to have gathered pace as chief executive officer John Fallon focuses on tackling a slowdown in the education unit.
Bloomberg's sources said no formal decision has been made and Pearson may choose to keep the newspaper.
At 14:41, shares were up 0.3% at 1,279.00.