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ITV climbs on zombie M&A speculation

Thu 14 March 2019 14:15 | A A A

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(Sharecast News) - ITV shares were lifted on Thursday by revived speculation that the broadcaster could be a takeover target.

After meeting Liberty Global finance chief Charlie Bracken this week, analysts at New Street Research noted that ITV was in the thoughts of the US media giant.

Bracken "didn't want to get people thinking they are suddenly going to buy ITV," New Street said, but "it was hard not to leave the meeting with the view that it is being given some level of thought internally".

ITV shares, having fallen not far from a five-year low below 122p in December, continued their recent rally and were up almost 3% on Thursday to 135.3p.

Rumours and speculation about a potential bid for ITV have rumbled along in a zombie-like existence for many years, with investors who follow the sector divided between fact-hardened cynics and panglossian devotees.

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