Arqiva seems likely to drop plans for a $6 million auction of its transmission business in favour of an IPO.
The Sunday Times reports the Singapore investment fund GIC has pulled out of the auction leaving Canadian property company Brookfield as the only firm bidder.
In July four banks, Barclays, Goldman Sachs, HSBC and JP Morgan, were hired ahead of a possible flotation, as part of a dual track strategy.
Arqiva is responsible for the transmission of the majority of Britain’s terrestrial television and radio signals, as well as satellite uplinks for Sky and a host of international broadcasters. It also has substantial business in the mobile phone sector.
It is also a shareholder in Freeview.
Arqiva’s largest shareholder is the Canada Pension Plan Investment Board, which holds 48 per cent of the shares. The Australian bank Macquarie owns a further 25 per cent.
