The stock had lost 27.4 per cent around 1100 GMT, its worst-ever fall, trading at 587 pence on the London Stock Exchange. No stranger to headwinds, Pearson announced 4,000 job cuts -- 10 per cent of its workforce -- early last year. Pearson also said it would exercise a sell option on its 47-per cent stake in Penguin Random House, created in 2013 by combining its Penguin imprint with Bertelsmann's Random House. "We are open to increasing our stake in Penguin Random House, provided the financial terms are fair," said Bertelsmann chief executive Thomas Rabe. Penguin Random House was "the clear number one in the publishing industry" Rabe said, with sales of around 3.7 billion euros ($4.0 billion) in 2015.

Source: The Nation Bangkok January 18, 2017 11:42 UTC