Speculation is mounting that City specialist Hanover Investors are attempting to stop the merger between UTV and SMG. The rumour comes after Hanover increased their shares in SMG from 5.4 per-cent to 12.6 per-cent. Hanover has a history of making changes to companies which are underperforming.
The speculative report, in The Herald today also suggests that Hanover are planning to seek and extraordinary meeting to call for the removal of SMG chairman Chris Masters.
Click [link=http://www.theherald.co.uk/business/news/display.var.1213888.0.0.php]here[/link] to read the full article.
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