The owner of Britain’s Daily Mail newspaper, Daily Mail and General Trust Plc, has confirmed it is considering options for its 49% stake in Euromoney Institutional Investor Plc.
Euromoney is a publisher and event organiser.
DMGT added it had not yet held discussions with anyone about a sale.
A source quoted in The Times newspaper UK claimed Euromoney had become “non-core” to DMGT.
DMGT previously reduced its stake in Euromoney from 67% to 49% in 2016 and the group has been under pressure with its shares falling 6% in the past year. Analysts believe shareholders could benefit with a special cash return of up to £750m (US$981m), The Times noted.
In a market statement on what it termed “media speculation”, DMGT said: “DMGT notes recent media speculation that it is considering strategic options in respect of its holding in Euromoney and confirms that it is reviewing options for its holding, consistent with its stated strategy of increasing portfolio focus.
“DMGT confirms that it has not received any proposal nor is it in discussions with any party to acquire its holding in Euromoney. DMGT will make a further announcement if it becomes relevant and appropriate.”
