Reed Elsevier, the scientific, medical and legal publisher, will seek to sell its 11.8 per cent stake in HM Riverdeep soon and could add the proceeds to higher borrowings in order to step up its acquisition spending.

Sir Crispin Davis, chief executive, admitted that Reed had agreed to take the stake in Barry O'Callaghan's educational publishing group to smooth its purchase this month of Reed's Harcourt Education business. "We don't take the view that's a long-time shareholding."