| |
14. Other fixed asset investments
| |
 |
 |
 |
|
|
| |
valuations |
book values |
valuations |
book values |
| Listed |
2 |
1 |
1 |
1 |
| Unlisted |
331 |
167 |
464 |
139 |
|
|
|
| |
333 |
168 |
465 |
140 |
|
|
|
NOTE:
During the year the Group sold its 6.3% shareholding in Société
Européenne des Satellites for £160m. The sale was made cum dividend
and consequently £4m has been included in operating profit leaving a profit
of £133m before tax estimated at £30m. During the year the Group sold
its 4.8 million shareholding in Flextech plc for £28m. The profit on sale
amounted to £27m before tax estimated at £8m. During the year the Group
acquired a 10% stake in Antena 3, a commercial television channel in Spain
for £40m. If all investments were realised at valuation there would be
an estimated liability for taxation, at year end rates, of £49m.
| |
bsbh |
other |
total |
|
|
| |
|
|
|
| Summary of movements |
|
|
|
| At 31 December 1997 |
90 |
50 |
140 |
| Exchange differences |
– |
5 |
5 |
| Additions |
– |
53 |
53 |
| Owned by businesses disposed |
– |
(5) |
(5) |
| Disposals |
– |
(27) |
(27) |
| Release of provisions for permanent diminution in
value |
– |
2 |
2 |
|
|
| Book value at 31 December 1998 |
90 |
78 |
168 |
| Valuation at 31 December 1998 |
255 |
78 |
333 |
|
|
|
|
 |
