GCap rejects Global Radio bid

Posted by Colin Crummy on 7 January 2008 at 08:58
Tags: Radio

Global Radio has said it was “currently considering its position”after its 190p a share indicative offer for GCap Media was rejected, reports the Financial Times.

Although Global said there was no certainty any offer would be made, the FT said that many analysts expect it to press ahead with its efforts to buy GCap. A bid at 190p would value GCap at Ј313m.

Global failed in its bid to buy the Emap radio stations in December, which went to H. Bauer, the German publishing group.

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