UPDATE: UTV have also issued a press statement this morning following recent press reports about the merger of the company with SMG.
UTV points out the discussions are at an early stage and there can be no certainty that a merger will occur nor as to the structure or terms on which any merger might happen.
The full statement, released mid-morning today states:
UTV notes the recent press speculation about a potential merger with SMG and the announcement made earlier today by SMG. UTV confirms that it has approached the board of SMG with a merger proposal. However, discussions are at an early stage and there can be no certainty that a merger will occur nor as to the structure or terms on which any merger might happen. In particular, any merger could proceed by way of a bid by either company for the other or a scheme of arrangement in either company.
UTV will update shareholders in due course.
RELATED LINKS:
SMG and UTV in merger talks
UTV plots takeover of SMG