UPDATED: Shaw Brothers consider share sale

Hong Kong - TVB has rejected claims the company is in talks for a possible sale or merger, but its controlling shareholder the Shaw Brothers is in discussion to sell its stake.

TVB has responded to speculation that the company has plans to sell its stock to a number of Mainland firms.

The company last night said in a statement that it was unaware of any negotiations or agreements relating to acquisitions of TVB stock.

However TVB acknowledged that its controlling partner Shaw Brothers is in talks to sell its 26% stake.

"The board of directors of the Company has made enquiries and is informed that Shaw Holdings Inc is currently in discussions with representatives of interested parties regarding such possible purchase," the statement said.

"Shaw Holdings Inc has confirmed to the Company that no agreement has been entered into in respect of any such possible purchase."