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Liberty Global Ltd sold £135 million worth of ITV PLC shares in a placing to institutional investors, cutting its stake in the broadcaster to 5% from 10%, it said on Wednesday. The 193.4 million shares were sold via subsidiary Liberty Global Ventures Ltd through an accelerated bookbuild process run by BNP Paribas and Deutsche Numis. Liberty said the sale raised about £135 million, suggesting an average price achieved of 69.80 pence per share. ITV shares were down 8.5% to 68.20p early Wednesday in London. Liberty had first announced plans for the share sale after the London market close on Tuesday. It has agreed to sell no further ITV shares for 60 days. The Denver, Colorado-based telecommunications first took a stake in London-based television broadcaster ITV in 2014 from satellite subscription service provider Sky for £481 million and nearly doubled it the following year - to 9.9% from 6.4%. Shares in Liberty Global closed down 1.0% to $11.10 in New York on Tuesday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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