BSkyB to appeal following ITV sell-off

BSkyB will launch an appeal today against the UK government’s decision to force it to reduce its controversial 17.9% stake in ITV.

The broadcaster said it would lodge its legal challenge with the Competition Appeal Tribunal today after being told last month to ditch more than half the holding – down to below 7.5%.

The move saw Sky take a £343m (€454m) hit in its interim figures earlier this month after the value of its ITV stake plummeted in value since being bought for £940m (€1.2bn) in November 2006.

Sky said yesterday that the Competition Commission had built its case on “implausible hypotheses”.