ITV sees almost £2.5b wiped off its value

ITV has seen almost £2.5bn wiped off its stock market value since the Brexit vote, raising city speculation the the broadcaster could become the target of a takeover.

ITV, which saw its share price fall by more than 20% on Friday, continued to see jittery investors drive its price down more than 5% in early trading on Monday.

At midday on Monday its share price had fallen to 164p, down from a pre-Brexit 220p and a one-year high of 280p. Investors worried about the repercussions of Brexit on ITV, which relies on a now nervy advertising market for much of its revenues, have driven the broadcaster’s market capitalisation from £9bn to about £6.5bn in the days since the EU referendum.

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