Susan Gordon, Business Reporter

Neville Blythe says he is willing to sell his remaining 20 per cent of CVM-TV. - file

Former owner of the UGI, Neville Blythe, denied this week that he has divested his 20 per cent in CVM Television, but told the Financial Gleaner he is willing to sell if he got a 'good offer'.

Blythe, the managing director of Guardian Insurance Brokers, said no one has made him an offer for his stake, denying circulating rumours that he had sold his interest to an investment scheme.

A little over a year ago, Blythe sold 51 per cent of his 71 per cent holdings in CVM TV to billionaire Michael Lee Chin for $250 million.

He told the Financial Gleaner that it was difficult to quote a price on how much his shares were worth today.

But based on the price paid by Lee Chin, the Financial Gleaner estimates that Blythe's share could be worth about $98 million to $103 million.

'I would sell'

"If a worthy buyer comes with the right price I would sell," Blythe told the Financial Gleaner in a brief interview earlier this week.

"I have no arrangement right now. Nobody is pursuing any shares right now but one never knows. If someone is interested and it seems reasonable, I can deal with it," he said, pointing out that The Gleaner's Power 106 had expressed interest in his shares some time ago.

susan.gordon@gleanerjm.com