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Global says reserves right to up GCap Media offer

Tue Feb 12, 2008 1:33pm EST

LONDON, Feb 12 (Reuters) - Privately-owned Global Radio said on Tuesday it reserves the right to make a higher offer for GCap Media GCAP.L, Britain's largest commercial radio group.

"In response to press commentary published today which speculated that Global Radio has no intention of increasing its indicative offer for GCap Media above the level of the indicative offer of 190p per share ... Global Radio wishes to clarify that it has made no statement to this effect."

Global said it could make an offer at 190 pence, not make an offer, pitch an offer at less than 190p or make a higher approach. (Reporting by Gavin Haycock)



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