skip to main content

BSkyB facing loss on ITV stake?

Reports say Britain's Competition Commission is expected to send its final verdict on BSkyB's controversial 17.9% stake in rival ITV to the British government by the end of the week.

The watchdog is understood to be outlining a recommendation that Sky cuts its stake to between 5% and 10% within six months of the official decision, according to the Financial Times.

The Commission provisionally found in October that Sky's holding operated 'against the public interest' and restricted competition.

BSkyB could make substantial losses if it is forced to sell down the stake, bought for £940m last November and now worth less than £600m, based on today's share price.

ITV shares have fallen by more than a third in value since BSkyB made the surprise move to snap up the stake amid falling net advertising revenues and profits.