Investors increase rival stakes in UTV
28 November 08
| Two Irish investors have stepped up their rival stake-building in UTV Media. The share price of the Northern Irish broadcaster rose 6.5pc to close at 89.75p on London stock markets yesterday after Peter Crowley and Neill Hughes issued notification that they had bought 1.8 million shares on Friday, taking their stake to 11.42pc. The duo, who are best known for their ownership of the Racing Post newspaper, are building their stake through Organo Investments, which is now the second-largest investor in UTV. The largest investor is TVC Holdings Plc, headed by Shane Reihill, which also raised its stake last week - to 15pc. The share building follows UTV's acquisition of a number of radio stations in the Republic in recent years, and earlier this year it bought Dublin music station FM104 from Denis O'Brien for EUR52m. |
