Trinity Mirror responds to pension fund concerns
Posted
by
Paul McNally
on 6 July 2008
at 16:39
Tags: Media Business, Regional Newspapers
Trinity Mirror has insisted it can still afford to prop up its £1.5bn pension fund and has no plans to sell it on.
The beleaguered regional newspaper group - which issued a profit warning on Monday - has told the Times that City concerns that it is having trouble keeping up pension payments are unfounded.
Trinity Mirror’s share price fell 2.5p on Friday to 91.5p after investment bank UBS slashed its target share price and encouraged investors to sell.
Johnston Press also lost 4p, down to 31.5p as rumours abound that the group will follow Trinity Mirror and issue a profit warning in the coming weeks.
