Business Services Industry
Good News in Italy.
Australasian Business Intelligence, April, 2003
Apr 03, 2003 (The Mercury - ABIX via COMTEX)
News Corporation's $A1.6bn acquisition of Italian pay television operator Telepiu has been approved. Shares in the global media group increased $A0.36 to $A11.39 on the Australian sharemarket on 3 April 2003, with its preferred scrip gaining $A0.28 to $A9.45. The European Commission granted approval to News Corporation and partner Telecom Italia to purchase Telepiu from Vivendi Universal, and to merge it with their Italian pay television company Stream. The commission said the merger will result in a near-monopoly, but will be more beneficial to consumers given the disruptions that would have been caused by the likely closure of Stream.
Publication Date: 4 April 2003
NEWS CORPORATION LIMITED - ASX...
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