Shares soar on ITV merger plans

Shares in ITV groups Granada and Carlton soared today after speculation that their planned £3.8bn (€5.5bn) merger could get the go-ahead with minimal strings attached.

The pair, which between them control 12 of the 15 ITV franchises, are awaiting an announcement later this week from Trade and Industry Secretary Patricia Hewitt on whether the tie-up is to be waved through.