TVC sells half of its UTV stake for €22m

Investment firm, TVC Holdings has sold nearly half of its shareholding in UTV Media for over €22m.

The move — which sees TVC selling 7.6m shares and lowering its stake from 18% to just over 10% — means the Dublin firm has made around €80m on disposals in the past two and a half years through the sale of its stakes in specialist technology firms like Norkom and Shenick Network Systems, as well as a number of unquoted tech investments.

The company also returned around €50m to shareholders last year by way of a special dividend.