BSkyB to appeal ITV ruling

As expected, BSkyB will appeal a Competition Appeal Tribunal (CAT) ruling to reduce its 17.9% stake in UK commercial network ITV.

In terms of process, BSkyB will request that it be allowed to appeal. This request is initially being made to the CAT. If denied, then BSkyB can take the matter further to the Court of Appeal. If the case is allowed, it could easily take another year to be settled.

ITV had previously welcomed rulings ordering BSkyB to reduce the stake, saying that BSkyB should sell the entire holding or at least trim it to 4.9% as it could otherwise exert influence. ITVís share price fell back 6.6% on Nov 28, while BSkyB gained 2.6%.