UK: Worth more together ... or apart?

An eventual demerger of Granada into its main constitutents of hotels and media could be the last act of the partnership which created the giant.

The share price has bounced back to pre-1997 levels, the £3.9 billion takeover of hotels group Forte is bedded down, and the extra £100 million of profit it claimed the takeover would unlock is all but in the bank. All in all it seems Granada's dynamic duo, Gerry Robinson and Charles Allen, have much to smile about.