IN&M may sell iTouch stake, says Merrion

INDEPENDENT News & Media could sell-off its controlling 38% stake in mobile phone messaging offshoot iTouch, Merrion Stockbrokers forecast yesterday.

IN&M may sell iTouch stake, says Merrion

The markets were surprised by iTouch's better-than-expected results for the first six months of the year.

The company predicted it will enter sustainable EBITDA (Earnings before interest, tax, depreciation, amortisation and exceptional items) profitability by the third quarter of this year.

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