Daily Mail and General Trust confirmed on Monday it was “reviewing options” for its holding in the financial information service Euromoney, but said it was not in discussion with any parties.
The announcement was prompted by speculation that the news group would offload its interest in the FTSE 250 company to fund a £750m cash return to shareholders, reported in the Times.
DMGT said the review of its stake in Euromoney, which it founded 50 years ago, was “consistent with its stated strategy of increasing portfolio focus”.
Paul Zwillenberg, chief executive of DMGT, reduced the group’s stake of Euromoney from 67 to 49 per cent in 2016. He said then he refused to rule out a possible sale of any of its newspaper titles as “there are no sacred cows”.
The newspaper group reported profit before tax last year of £692m, boosted by its TV arm, in an otherwise tough environment for newspapers.
DMGT shares jumped 2 per cent in early London trading opening, while shares in Euromoney fell slightly.