Liberty Global sells half its ITV stake in placing, shares tumble

(Sharecast News) - ITV tumbled on Wednesday after its largest shareholder, Liberty Global, sold half its stake in the broadcaster in a placing, raising about £135m. Liberty Global sold just over 193.3 million shares, representing a stake of around 5%. They were sold to institutional investors by way of an accelerated bookbuild process.

Following settlement of the placing, Liberty Global's interest in ITV will reduce to around 5% from 10%.

At 0830 BST, ITV shares were down 9.8% at 67.22p.