SHAREHOLDERS Sir Anthony O’Reilly and Peter Goulandris will inject a further €33m (£26m) into Waterford Wedgwood before the end of June to help revive the fortunes of the luxury goods group. The cash is expected to complete the €200m fundraising programme first announced last year.

The finalisation of the cash injection comes as the company announced Peter Cameron was to stand down as group chief executive. Finance director Anthony Jones and interim chief executive David Sculley, a consultant, are reviewing operating costs. The company is close to agreeing 490 job cuts at its Waterford plant. It is expected to announce losses of up to €100m for the year to March.

Estate agent’s plea

THE estate agency Hamptons is believed to have asked embattled investors to back an emergency £5m fundraising. It comes as the country’s housing market grinds to a halt. Countrywide, the estate agent which owns a string of national chains, is also finding the going tough. The debt raised to finance a takeover of the company is now trading at a discount of 50%. Housebuilders have just witnessed their worst Easter trading period.

Arsenal stake sale nears

COMMERCIAL broadcaster ITV is this week set to conclude a long-awaited deal to sell its stake in a broadband joint venture with Arsenal Football Club to the American sports investor Stan Kroenke, who already owns a 12% stake in the Premier League team. Kroenke had provisionally agreed to buy the broadband stake when he bought ITV’s shares in Arsenal a year ago but negotiations have dragged on since then. It is thought the deal has now been agreed and an announcement is expected early this week. The tycoon will have to pay about £15m to ITV, having paid a nonrefundable £7.5m deposit last year. He spent £42m buying ITV’s 9.9% stake in Arsenal but has since topped up his holding.

Trinity tilts at marketer

NEWSPAPER publisher Trinity Mirror has weighed in to the battle for e-mail marketer TMN. It has expressed interest in buying the £40m business, put in play after an unwelcome approach from direct-marketing firm Tangent, part-owned by former Carlton boss Michael Green. However, TMN is expected to open its books next week to one of its two private-equity suitors, with August Equity edging ahead of rival 3i. They must win over Mike Danson, the former Datamonitor boss, who has built up a 12% stake. TMN’s board is unlikely to accept an offer below 60p, some 19% above Friday’s close.

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