ITV shares soar as takeover talk continues

Rumours of a potential £3bn (€3.9bn) private equity bid for ITV sent the broadcaster’s shares soaring today.

The boost came after weekend reports that a trio of firms were considering a possible approach for ITV, which seen its shares plunge to record lows in January.

Apax, Kohlberg Kravis Roberts and Provident are studying the broadcaster, the Observer newspaper said, as a tough advertising market and rival BSkyB’s enforced sale of more than 10% of its controversial stake in ITV combine to dampen the group’s share price.