ITV’s Stock Falls Again

LONDON, November 12: ITV
plc’s stock price fell again today for the third time in four days and reached
its lowest level since the company made its debut as merged plc in February
2004.

The share price fell on
Wednesday following reports that ITV wants BSkyB to sell its 17.9-percent stake
in the broadcaster. This led to speculation that there could be a shortage of
buyers if Sky's shares are dumped on to the market.

The fall in ITV's shares
is not good news for Sky either, which faces a loss of more than £300 million
if the government forces it to sell its stake at the current market price. Sky
paid £940 million for its 17.9-percent stake in November.

The U.K.’s Competition
Commission delivered its provisional findings on BSkyB’s stake at the beginning
of October. It is due to submit a full report to the secretary of state for
business enterprise and regulatory reform John Hutton by early December.

—By Anna Carugati