PRESS DIGEST - FINANCIAL TIMES - JAN 17 =8
Shares in Character Group (CCT.L) closed at 86 pence, up 14 pence, as the company said it was looking at least to match last year's results. The company issued a recall of its Bindeez beads range last November which caused the shares to fall from a high of 205 pence to 146 pence. The stock then halved in December when the company revealed it expected an 18 per cent year-on-year decrease in sales for the last four months of the year. Character emphasised the strength of its balance sheet despite its recent profits shortfalls and the buy-back of 1.4 million shares since September 2007.
PEARSON CLOSES IN ON FTD SALE
It is understood that Pearson (PSON.L) may be close to selling its half-share of FT Deutschland to its joint venture partner Gruner+Jahr. Those familiar with the deal say that Gruner+Jahr, which is controlled by Bertelsmann (BTGGg.F), had beaten Holzbrinck and Sueddeutsche Zeitung to pay the asking price of 11.2 million to 14.9 million pounds. In July Pearson sold the French newspaper Les Echoes, and the sale of FT Deutschland will complete the company's exit from owning foreign language newspapers. A trading update is to be issued on Tuesday.
Prepared for Reuters by Durrants.
