Falling shares knock £2.5billion off BSkyB’s value
A fall of 17% in shares from when the News of the World phone hacking scandal blew up last week has knocked £2.5 billion off the value of broadcasting group BSkyB.
Shares fell by 6% this morning following the news that culture secretary Jeremy Hunt may be writing to Ofcom for advice about the possible BSkyB takeover by News Corp.
The deal by News Corp to buy over the remaining 61% of BSkyB seemed ready to go through following the agreement to sell off Sky news.
It has been revealed that there were more than 150,000 responses to the consultation document about the takeover. A decision was supposed to be made this month, but it is now expected to be delayed until at least September.