ITV stock gains on possible takeover

ITV shares made further heavy gains yesterday after reports said former BBC director general Greg Dyke may launch a £6 billion takeover bid.

Shares in the company have lifted 10% since last Wednesday - including 3% yesterday - amid speculation a bid could be on the cards.

It is understood media heavyweights Mr Dyke, Clive Hollick and former managing director of the Daily Telegraph Stephen Grabiner could join forces in a consortium backed by investment groups Kohlberg Kravis Roberts (KKR) and Apax Partners.