No bidders for Chrysalis

No bidders have come forward for the radio assets of Chrysalis Group, according to a report in the Financial Times this morning. It is thought that several companies, including UTV were expected to submit bids in the first round of the auction but have failed to meet the deadline.

Bids will re-open for a second round at a later date.

Chrysalis is said to be looking for offers up to 200 million pounds, but the FT cited a source as saying some bidders struggled to reach valuations above 160.

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