Fund managers reduce shareholding in SMG

YOU may have spotted in yesterday’s Herald newspaper, the news that fund managers, Fidelity, have just sold half a million shares in the owners of stv, SMG – who are currently engaged in merger talks with Northern Ireland’s UTV.

That said, it still retains 45.6 million shares in the company, in other words 14.44 per cent of SMG – which means it remains the second-biggest shareholder in SMG, behind ITV, which has 17 per cent.

Read more, here.