Sun sets on BSkyB's dawn raid of ITV.
Investors Chronicle - magazine and web content, January, 2008
ITV's miserable share-price performance means BSkyB faces a painful exit from its investment Amanda Vermeulen
As expected, UK business secretary John Hutton has ordered BSkyB to sell its 17.9 per cent share in rival ITV down to below 7.5 per cent, forcing BSkyB to record a GBP343m loss on the investment in its interims. The disposal timeframe has been kept confidential "to ensure an orderly process".
Declining media spend and the knock from the abortive ITV investment are not good news. So, with the interim results pending, it might be prudent to be cautious. BSkyB shares are high enough at 540p.
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