Sunday 20 April 2014

Trinity Mirror plays down Post talk

British newspaper group Trinity Mirror yesterday sought to play down reports that the planned sale of the 'Racing Post' to a group of Irish investors may be scrapped.

"We have always said the process would be completed by the end of the third quarter. We are not commenting on any speculation," a spokesman for the company said.

FL Partners, an investment vehicle headed by former investment bankers Peter Crowley and Neill Hughes, entered exclusive talks in June to acquire the racing industry bible for about £190m (€272.5m). It had originally been expected that the paper would fetch in excess of £200m.

However, British media reports this week said that Trinity was considering abandoning the sale of the 'Racing Post.'

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