[Merged]Sky shares in ITV

[Media Boy UK]

Trade Secretary Alistair Darling will make an announcement within days on whether Ofcom should launch a probe into BSkyB 17.9 per cent stake in ITV.

Info from The Mail on Sunday.

[AndyCambs]

Trade Secretary Alistair Darling will make an announcement within days on whether Ofcom should launch a probe into BSkyB 17.9 per cent stake in ITV.

Info from The Mail on Sunday.
However he does risk upsetting the pro-Labour Murdoch on the one hand, or the Labour back benchers on the other hand!

[parky]

http://news.bbc.co.uk/1/hi/business/6396299.stm

[Nikesh]

Good read thanks. :)

[Maggy]

Even this article has got around to the Sky basic package squabble.

"With three days to go before the deadline, we hope that Virgin Media will focus on getting a deal done rather than on their PR offensive," said BSkyB chief financial officer Jeremy Darroch.Whose PR offensive? All I have had is an email..I've not seen anything else advertised by VM about this issue.

Anyway sounds like Sky are weakening and if OFCOM do have any teeth they may finally bring Sky to heel about unfair practices.

[Bob]

Granted there had been a few adverts over the weekend from Virgin in the papers (and I suppose they have issued a good few statements about it to different news agencies) - it's hardly a PR offensive is it?

Now showing an advert about it at every break - that's a PR offensive lol!

[Nikesh]

I still haven't been sent the email..... :dozey:

[a good help]

just goes to show how childish SKY are being at the mo, they blame V/M all the way, yet they are the ones who have "taken their ball home" and dont want to play...

[Tod]

Anyway sounds like Sky are weakening and if OFCOM do have any teeth they may finally bring Sky to heel about unfair practices.

Ofcom are a toothless pussycat - I have yet to see them do anything that benefits the wider population.

[dragondottie]

I just hope somebody does sort Sky out, they are bullies

[Downloads]

Quite an interesting development in the story of ITV...

http://www.digitalspy.co.uk/broadcasting/a43605/itv-expresses-concern-over-sky-stake.html

Does anyone with anymore knowledge than me have an opinion on whether ITV objecting means that Sky are anymore likely to be forced to sell their shares in ITV?

Wasn't expecting this though!

[andygrif]

ITV has not objected, they have expressed concern that in the due process of shareholder votes, some processes require a 75% majority to be passed through, and that Sky's owvership could effectively stop this, as the biggest single shareholder.

It's interesting that nothing has been said by Grade for five months, but when OFCOM announce they are having an initial enquiry he starts getting a little cautious.

AFAIK, holding shares in a publicly listed comany is something that anyone can do - we don't need the company's permission to do so.

If Sky wanted to launch a takeover or merger (something that they are prevented from doing by law) they would need the support of a majority (and I think this might be the 75% Grade was referring to) of shareholders to proceed.

So unless the government or regulators rule that some shares must be sold off, there is no compulsion to do so.

[AndyCambs]

AFAIK, holding shares in a publicly listed comany is something that anyone can do - we don't need the company's permission to do so.



However large share purchases must have the identity of the purchaser disclosed to the stock market.

[andygrif]

Indeed, something that was done when the shares were bought:

http://phx.corporate-ir.net/phoenix.zhtml?c=104016&p=irol-newsArticle_Print&ID=932602&highlight=