Mirror Newspaper Auction

Published November 24th, 2006


Trinity Mirror has had numerous approaches from potential buyers of its flagship national newspaper titles, including the Daily Mirror, but the company insisted yesterday that it is committed to completing a strategic review of its operations before opening talks.

Sly Bailey, chief executive of the newspaper publisher, is due to reveal the findings of its review next month, with speculation building that it could split up its business and sell either its national or regional titles. The company is being advised by investment bank NM Rothschild.

Marcus Evans, owner of the eponymous conference and hospitality company, has approached the bank about buying the company’s national titles for between £550m and £600m. He tried to buy Trinity Mirror’s national assets for £800m two years ago.

A Trinity spokesman said the company would not entertain talk of a sale before it completes its review. He said: “Marcus Evans is welcome to buy the Daily Mirror for 40p at the newsagent. This approach is wishful thinking on his part as none of Trinity Mirror’s assets are for sale.”

Analysts said the new offer from Mr Evans would not tempt the board into discussions. UBS said £600m is around the mid-point of market expectations of what that business would be worth if the group’s Scottish titles were not included.





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