Shares in Independent News & Media (INM) soared on Thursday after the company confirmed it may be sold, having received a takeover approach from an unnamed suitor. Speculation“The board of INM notes the recent press speculation and confirms that it has received an approach in relation to a possible offer for the company,” INM said. It announced a more than 2 per cent decline in group revenues to €191 million while pretax profits fell by more than 15 per cent to €24.1 million. ResultsINM also revealed in last week’s results that it recorded a €3.5 million charge for legal costs last year. Sources said German media group Axel Springer had taken a look at INM in the past, while Norwegian group Schibsted has also been rumoured to hold an interest.

Source: The Irish Times April 04, 2019 09:59 UTC