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'Fit and proper' test for Sky bid

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Old 08-07-2011, 01:10 PM
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Default 'Fit and proper' test for Sky bid
Ofcom, the media regulator, is to investigate News Corporation's proposed bid for satellite broadcaster BSkyB.

The BBC has learnt that Ofcom will look into whether News Corp would be a 'fit and proper' owner.

It follows allegations about phone hacking and other activities at the News of World, the tabloid newspaper owned by News Corp's UK division.

On Friday former NoW editor Andy Coulson was arrested by police investigating hacking allegations.

BBC business editor Robert Peston understands that Ofcom will not launch an inquiry immediately.

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Old 11-07-2011, 08:32 AM
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It will be interesting to see how this whole episode unfolds with Rupert Murdoch now in the UK and having to face the reality of it all.
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Old 11-07-2011, 09:00 AM
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Default BSkyB shares slump on Hunt letter
BSkyB shares have slumped in early trading in London on fresh doubts about whether News Corporation will be allowed to take it over.

The shares fell 6% in early trading.

The fall came after it emerged Culture Secretary Jeremy Hunt was writing to regulators to ask for fresh guidance on whether News Corporation should be allowed to buy the rest of BSkyB.

It takes BSkyB shares close to the 700 pence News Corp offered for them in June 2010.

At the time, BSkyB's board told News Corp to come back with a higher offer.

The shares have risen as high as 850 pence in the past year on hopes that there would be a better offer.



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