BSkyB appeals ITV stake ruling

It seems a lot longer ago, but in 2006 BSkyB purchased a 17.9 per cent stake in rival broadcaster ITV for a cool 940 million or 1.35 a share.

This shareholding effectively blocked cable rival NTL from taking over ITV.

Since then the case has been referred to the Competition Commission and after appeals, the problem remains the same for BSkyB.

The satellite broadcaster will need to reduce the holding to under 7.5 per cent to bring it in line with competition rules.

However, this is BSkyB, and following its appeals being thrown out, there remains a final throw of the dice.

The satellite broadcaster has launched a fresh case at the Court of Appeal in London, with a view to getting the case referred back to the Competition Commission for a whole new investigation to start.