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Goldman Sachs places ITV stock linked to BSkyB sale

Reuters

LONDON (Reuters) - Goldman Sachs placed 190 million shares in ITV (ITV.L) at 190 pence ($320) each on Thursday in a transaction linked to Liberty Global's (LBTYA.O) acquisition of a stake in the British broadcaster, traders said.

The placement was a hedging operation linked to the deal, the traders said.

"(The placement is for) 190 million shares around 190 pence through GS," one trader said.

ITV's trading volume was nearly four times its full-day average for the past three months, against less than a third of the average for the FTSE 100 (.FTSE).

U.S.-based cable group Liberty Global (LBTYA.O) earlier in the day agreed to buy BSkyB's (BSY.L) 6.4 percent stake in ITV, intending to finance the acquisition through a loan linked to a hedging transaction that would be secured by ITV shares and existing liquidity.

(Reporting By Francesco Canepa, Alexandre Boksenbaum-Granier and Atul Prakash; Editing by Lionel Laurent)