Trinity Mirror PLC
17 July 2000
Not for release, publication or distribution in or into the
United States of America, Canada, Japan, Australia or the
Netherlands.
Trinity Mirror plc
Sale of Belfast Telegraph Newspapers Limited ('BTNL')
The Board of Trinity Mirror plc ('Trinity Mirror') has noted
the announcement made today by the Secretary of State for
Trade and Industry that he has given his consent to the
proposed transfer to Independent News & Media (Northern
Ireland) Limited (a wholly-owned subsidiary of Independent
News & Media plc, 'Independent News & Media') of the newspaper
titles and assets of BTNL. The consent of the Minister for
Enterprise, Trade and Employment of the Republic of Ireland
has already been received.
As previously announced Trinity Mirror will receive cash of
£300 million, less any indebtedness and subject to adjustment
reflecting working capital movements in BTNL between signing
and completion. Completion of the transaction is expected to
take place shortly.
Commenting on the announcement Philip Graf, Chief Executive of
Trinity Mirror, said:
'I am pleased that we have received the necessary consents for
the sale of BTNL. Although we are disappointed to have been
required to sell BTNL, Independent News & Media will be an
excellent owner of this high quality publishing business. I
would like to take this opportunity to pay tribute to the
management and staff of BTNL who have contributed so much to
the success of the business under Trinity Mirror's ownership.'
Enquiries:
Philip Graf Trinity Mirror 020 7293 3000
Chief Executive
Simon Borrows Greenhill & Co. 020 7440 0400
Rupert Younger Finsbury 020 7251 3801
James Leviton
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.