DMGT shares plunge on Northcliffe news

Posted by Martin Stabe on 17 February 2006 at 14:29
Tags: Newspapers, Northcliffe

So far today, Daily Mail and General Trust has seen more than 10 percent drop from the of the value of its shares following news this morning it is cancelling the planned sale of Northcliffe, its regional newspaper group.

DMGT is currently trading at 668p after closing at 745.50p last night. This puts the share price back to about the same level it was at before the plans to sell Northcliffe in November.

The planned Northcliffe sale had been expected to raise around £1.5 billion.

Tags: Newspapers, Northcliffe