Fashion publisher Emap sees share rise

Shares in Emap, the troubled publisher of FHM, jumped after revealing it has hired investment banks to review all options for the company, including a possible sale. The company has hired Citi and Lazard to conduct the review which comes after Emap said it received a number of approaches for parts of its business. The news comes follows the unexpected resignation of chief executive Tom Moloney. The company said today that it is still searching for a new head.

Analysts believe that Emap, which owns a variety of business-to-business publications as well as consumer brands like Heat magazine and the radio stations Kiss and Magic, would be an attractive break-up target for private equity investors because it is clearly divided into three different businesses with strong decent levels of cash. Shares in Emap rose as much as 9pc in early morning trading.