Media Moves

Financial Times parent sells stake in India biz paper

April 18, 2008

The Financial Times parent is selling its minority stake in an India-based business newspaper, the Business Standard, writes Chris Tryhorn in the Guardian.

Financial TimesTryhorn writes, “Pearson has decided to give up its shares in the newspaper four years after it became the first foreign company to make a major investment in an Indian business title.

“The two papers had collaborated for more than a decade before Pearson bought the stake in 2004, with FT articles regularly featured in the Business Standard. The Indian title will continue to use FT content until the end of the year.

“A statement printed on the front page of today’s Business Standard said: ‘Infina Finance Private Ltd, an associate of the Kotak Mahindra group, has acquired the 13.85% stake in Business Standard Ltd from Pearson, the owner of the Financial Times.'”

Read more here.

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