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The Guardian - UK
The Guardian - UK
Business
Roy Greenslade

Montgomery's Orkla deal hits financing snag

The deal to sell, Orkla, one of Norway's largest media companies, to a new firm run by David Montgomery has run into financing problems (see Montgomery acquires Norwegian media group). He seems to be having some trouble raising enough funds, having agreed to raise 70-80% of the £600m purchase price before a contract is signed. But uneasy financial markets and uncertainty over the value of some of Orkla's Danish newspapers has scared off several of the investment funds that were expected to participate. One Norwegian paper, Dagens Næringsliv, reported today that the deal is in danger of collapse. (Via Aftenposten - News in English)

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