The Week: City News - RTL gets go ahead for ITV

RTL, the owner of FIVE, has been given the green light by its parent, Bertelsmann, to bid for ITV.

Reports say the Mohn family, which controls Bertelsmann, has set aside £1 billion for the chief executive, Gerhard Zeiler, to use for European acquisitions. Although ITV is said to be Zeiler's top priority, he would need to borrow to fund the bid, and with the financial markets still embroiled in turmoil, this is likely to prove difficult.