GCap deal expected this week
Another weekend and another speculative report about Global Radio and GCap Media. The latest news is that Global's 371 million pound offer for GCap is set to be approved as early as this week, according to sources close to the negotiations.
The report, by financial website [link=http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=432547&in_page_id=3]Thisismoney.co.uk[/link] doesn't give any more information on the deal other than a suggestion that the deal is expected to go through.
There has been no mention so far of any conditional arrangements with regards to the competition authorities, as a completed deal would see the super-sized radio group own Capital 95.8, Gold, Heart, LBC, Choice and Xfm in London alone.
Global Radio is backed by Irish racing tycoons John Magnier and JP McManus, and chaired by former ITV boss Charles Allen.