GCap rejects approach from rival

Classic FM parent group GCap Media today confirmed it had rejected an approach from rival Global Radio potentially valuing the firm at around £313m (€419m).

GCap rejects approach from rival
Mon, 07 Jan, 2008 - 08:14

Classic FM parent group GCap Media today confirmed it had rejected an approach from rival Global Radio potentially valuing the firm at around £313m (€419m).

The firm said Heart and Galaxy owner Global Radio had made an indicative proposal at 190p a share – a 57% premium to GCap’s closing share price on Friday.

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