ITV shares dive after BSkyB move

ITV shares took a tumble today following BSkyB’s shock move to spend £940m (€1.4bn) on a 17.9% stake in the NTL takeover target.

With BSkyB’s purchase seen as a severe blow to the chances of a deal for ITV, shares in the broadcaster were 5.5p lower at 110.25, a drop of almost 5%.