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LONDON (AP) - ITV PLC, Britain's largest independent land-based broadcaster, said Wednesday it had rejected a bid from a private equity consortium for a controlling stake in the company.
ITV said it turned down the bid from a the consortium comprising Apax Partners & Co. Ltd., the Blackstone Group and Goldman Sachs Group Inc.'s Principal Investment Area because the proposal would mean a large increase in the company's debt.
ITV and Goldman Sachs both declined to say how much the consortium had offered or how large a stake it sought, but The Daily Telegraph newspaper said in Wednesday's editions that the consortium had offered to inject 1.5 billion pounds ($2.62 billion) to take effective control of ITV.
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