Carlton open to takeover bids

TELEVISION group Carlton's chairman Michael Green fuelled expectations that merger talks with Granada will be resurrected, by making it clear that he is open to approaches.

'I cannot say that we are likely to get a bid, but we are trying to make ourselves as attractive as possible because we want to create value for shareholders,' he told Carlton's annual general meeting.

In a frank question-and-answer session with shareholders, Green admitted responsibility for the costly investment in the loss-making ITV Digital venture, but said it was important to branch into new areas.

He warned that advertising revenues over five months are down 12%. 'We are unable to predict with certainty the timing of a resumption in growth,' Green said. 'However, we expect the football World Cup in June will stimulate renewed interest among leading advertisers.'