Turns out that speculation about the imminent sale by ITT Corp of its 24% shareholding in STC Plc (CI No 726) was premature. ITT says that while it does indeed intend to sell the shares, it believes that the current market price – 329 pence – is still too low, and it expects the shares to rise higher, and accordingly will wait until it does. STC remains confident that ITT will not sell to a predator that would be unwelcome to the board of the UK firm. ITT is thought likely to go for a bought deal, where the entire holding would go to an investment bank that would seek to sell it on to its clients.