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Pearson PLC's CFO Says No Plans To Sell FT-Reuters

Wednesday, 14 Nov 2012 01:00pm EST 

Reuters reported that Pearson PLC does not have any plans to sell the Financial Times or a stake in a business being formed from a merger of its Penguin Books unit with Bertelsmann's Random House. Pearson then announced later in October it and Bertelsmann were to form the book publisher to better cope with retailers such as Amazon and Apple. Under the agreement, Pearson said it could sell its stake to Bertelsmann after three years. If Bertelsmann declined to buy, the joint venture could raise debt to pay both sides a dividend. Either side can require a stock market listing after five years. 

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