Printer Friendly

UK culture min refers News Corpa[euro](tm)s BSkyB buyout to competition commission.

MANews-(C)2009-2011

UK culture secretary Jeremy Hunt will send News Corpa[euro](tm)s (NASDAQ:NWSA) proposed deal to buy out British pay-TV company BSkyB (LON:BSY) to the Competition Commission for a full review, the minister told parliament on Monday.

Amid a phone hacking scandal at its News of the WorldA newspaper, News Corp said in a statement it was ready to withdraw steps made to avoid a probe by the Competition Commission, opening the door for long delays.

The culture secretary said the Competition Commission would now have the chance to consider all a[euro]oerelevant recent developmentsa[euro] in its evaluation of the deal.

News Corp has proposed to buy out the 61% not already owned in BSkyB in a USD14bn (EUR10bn) deal.Country: , UKSector: MediaTarget: British Sky Broadcasting Group plcBuyer: News CorporationDeal size in USD: 14bnType: Corporate acquisitionStatus: Bidding, Delayed

COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Date:Jul 12, 2011
Words:145
Previous Article:French Qioptiq looking for buyers.
Next Article:Main Capital buys majority in Dutch software firm EuroSystems.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters