- A planned £1.3 billion merger between Mirror Group Newspapers and the regional newspaper group, Trinity, has been called off following a breakdown in talks.
The deal would have brought together the Mirror, the UK's third largest newspaper group, with Trinity, the fourth largest. Mirror Group is the publisher of the Mirror, the Sunday Mirror and the People while Trinity is the publisher of titles such as the Liverpool Post and the Western Mail.
Talks are reported to have broken down on two fronts. One centred on the Trinity's valuation of Mirror Group shares at 155p, below their current market value of 162p.
It is also rumoured that David Montgomery, chief executive of Mirror Group, was having to fight to keep a senior management role within the merged group.
However, suggestions are that talks between the two companies, which first began in spring of last year, might resume sooner rather than later.