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Financial Times owner denies it is looking to sell

Published on Nov 7, 2012 7:31 AM

LONDON (AFP) - The owner of the Financial Times on Tuesday denied it was planning to dump the business newspaper after earlier reports suggested it was "planning to explore a sale".

Media wire Bloomberg reported that British media group Pearson was sounding out a private sale and that the company "has decided to consider offers for the newspaper this year".

Pearson released a statement within an hour, saying it was "not in the habit of responding to rumours, speculation or reports about our portfolio". It added: "However, this particular Bloomberg story is wrong." According to reports, Pearson is looking to offload the £1 billion (S$1.95 billion) valued company within months in order to focus on its fast-growing education division.

Chief Executive Majorie Scardino has said the paper would only be sold "over my dead body" but analysts have been predicting a sale since she announced her retirement on Oct 3.

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