Dowler Controversy Adds Pressure to BSkyB, News Corp. Deal
Tweet
Share
E-mail
Get Alerts NWSA Hot Sheet
Join SI Premium – FREE
BSkyB shares fell on the London Stock Exchange Monday following reports U.K. Culture Secretary Jeremy Hunt is requesting more advice from regulators following recent News of the World allegations.
Last June, Rupert Murdoch's News Corp (Nasdaq: NWSA) bid £7.8 billion, or £7.00 per share, for the 61 percent of BSkyB which News Corp doesn't already own. BSkyB shares fell to £6.93 early Monday following the reports over the weekend.
Because of the recent allegations in inquiries, investors are betting closing of the deal will become more difficult in the following days.
News Corp shut down News of the World over the weekend following reports one employee tapped into Milly Dowler's mobile phone back in 2002. Dowler was abducted on her way home from school and murdered a few months later.
Further, political power has recently been called upon to stem the influence which Rupert Murdoch has on the country. Murdoch also runs The Sun, The Times and The Sunday Times.
News Corp shares are down over 3 percent early Monday.
Last June, Rupert Murdoch's News Corp (Nasdaq: NWSA) bid £7.8 billion, or £7.00 per share, for the 61 percent of BSkyB which News Corp doesn't already own. BSkyB shares fell to £6.93 early Monday following the reports over the weekend.
Because of the recent allegations in inquiries, investors are betting closing of the deal will become more difficult in the following days.
News Corp shut down News of the World over the weekend following reports one employee tapped into Milly Dowler's mobile phone back in 2002. Dowler was abducted on her way home from school and murdered a few months later.
Further, political power has recently been called upon to stem the influence which Rupert Murdoch has on the country. Murdoch also runs The Sun, The Times and The Sunday Times.
News Corp shares are down over 3 percent early Monday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- News Corp. (NWSA) PT Raised to $38 at JPMorgan
- Magna Holdings makes unsolicited bid for 31% of Yatra Online
- TMCR raises $165M to acquire additional Mesabi iron ore royalty
Create E-mail Alert Related Categories
Insiders' Blog, Mergers and AcquisitionsRelated Entities
Rupert MurdochSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
