THE chief executive of The Scotsman’s publishers has strongly dismissed rumours of a takeover bid.
Tim Bowdler, who heads Johnston Press, has reacted to speculation that the company was about to be the subject of a takeover attempt by the investment arm of a Malaysian billionaire.
Bid rumours surfaced in several national newspapers and the financial website, Bloomberg.com, after City analysts predicted an offer was imminent.
Said Bowdler: “There is absolutely no substance to and no basis for these rumours, period. They are utterly without substance.”
The speculation has arisen partly by Johnston’s high debt and low share price – down around 80 per cent these last three years. As well as The Scotsman, Johnston owns 318 UK regional titles.