Appeal Tribunal rejects Sky ITV request

The Competition Appeal Tribunal has rejected an appeal from BSkyB against the reduction of its controversial 17.9% holding in ITV plc.

In its judgement the tribunal said it had unanimously refused Skyís request to be granted permission to appeal, which had been made on four counts, including the offer of remedies other than the earlier Competition Commission ruling to reduce its stake in the broadcaster to below 7.5%. Sky has maintained the acquisition of the stake in ITV was made purely as an investment and that it remains a supportive shareholder.

BSkyB now has 14 days in which it can take its application direct to the Court of Appeal.