- The Media Business Group has admitted that a statement about a possible take-over bid is likely to be made soon. It is known to have been in talks with Grey Advertising for some time.
The admission came as TMBG announced pre-tax profits up 35 per cent to £2.1 million for the year to April, on a turnover of £171 million, up from £134 million last year.
However, after rising yesterday 13.5p to 119p yesterday, the company's share price fell 7p this morning to 112p. The Media Business was not available for comment.