ITV tipped to take low-ball Friends Reunited bid

UK press reports suggest free-to-air broadcaster ITV could offload its Friends Reunited social network for as little as £15m (€17m), a huge discount on the £175m it paid for the website in 2005.

The free-to-air broadcaster has been trying to offload the service since early this year and is understood to have been hoping to recoup nearer £40m. However, Internet entrepreneur Peter Dubens is behind a much lower bid, tabled through private equity firm Oakley Capital.