Times Group looking to sell UK radio unit

MUMBAI, April 5 (livemint): Bennett, Coleman and Company Limited (BCCL), which acquired UK-based Virgin Radio Holdings Limited in June 2008 for £53.2 million, is considering the sale of the radio company, according to two people with direct knowledge of the matter. It has given Jefferies India Pvt Ltd the mandate to sell the business, added the two, neither of whom wanted to be identified. "We are in the process of conducting a review (of our various businesses)-as to where we stand. It's too premature to talk about the likelihood of sale, etc. I wouldn't want to comment any further," said Ravi Dhariwal, chief executive of BCCL. Virgin Radio was acquired by TIML Radio Ltd, a subsidiary of Times Infotainment Media Ltd (part of BCCL), from Scottish Media Group Plc. It was renamed Absolute Radio. TIML Radio had then said that it would invest £15 million in the re-branding effort.