Greek mogul eyes U.K. buys

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Greek shipping scion and Antenna TV CEO Theodore Kyriakou has emerged as an unlikely potential investor in British media assets, telling the Financial Times he has a war chest of £2 billion ($2.9 billion) to invest in U.K. and European media.

Kyriakou declined comment on a possible investment in ailing commercial broadcaster ITV but said he is "not going to rule out anything."

Shares in ITV, which airs "X Factor" and "Britain's Got Talent," have risen steadily since mid-December, despite falling overall markets.

Kyriakou said he has £600 million ($874 million) in cash to invest, with hopes of bulking that up to more than £2 billion through leverage, and is looking for growth opportunities in the U.K. and Europe.

"We are not about to rush in anywhere but will wait to see what opportunities turn up in the next six to 18 months," he said. "We are looking for businesses with growth potential, and we are looking at Internet, production, pay TV, free-to-air television and magazines." (partialdiff)
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