Banks seeking buyers for Financial Times
The Telegraph has reported that investment banks including Nomura, Credit Suisse and Bank of America Merrill Lynch, are seeking offers of between £740 million and £1 billion for The Financial Times.
As well as the newspaper, some of the banks are also offering FT owner Pearson’s 50 per cent stake in The Economist magazine, for £225 million, and acquisitions database Mergermarket, for £250 million.
According to the report, financial data company Bloomberg is the frontrunner for the title.
Pearson has consistently denied that it has appointed advisors to handle the newspaper’s sale, but at least one of the banks is understood to have told would-be buyers that Pearson had tasked them informally to seek out potential deals.
The media company has thus far denied reports, stating: “Pearson has initiated no sale process regarding the FT and categorically denies authorising any adviser or any bank, formally or informally."
The banks also declined to comment to the Telegraph.