Rupert Murdoch's News Corp may revise BSkyB bid terms
- Published
News Corporation boss Rupert Murdoch has said he is confident the bid will be cleared
Rupert Murdoch's News Corporation is prepared to modify the terms of its takeover bid for satellite broadcaster BSkyB.
Information posted on the European Commission's website said News Corp had told the competition regulator that it was ready to change the offer's terms.
The EC did not outline the proposed changes to News Corp's bid to buy the 61% of Sky it does not already own.
Sky's competitors say that a takeover would give News Corp too much power.
News Corp, whose stable of newspapers includes the Times and the Sun, has previously said it is confident the bid will clear competition hurdles.
It is seen as highly unlikely that News Corp will dispose of assets to clear any hurdles. Competitors' worries have focused on the company's ability to bundle its newspaper and television products to customers at discounts.
News Corp offered 700p a share for BSkyB, valuing the company at about 拢12bn. Sky rejected the offer in June.
The EC said on Thursday that its deadline to approve or reject the bid had been extended 10 days to 22 December.
- Published15 September 2010
- Published12 October 2010