BSkyB launches ITV appeal

UK pay-TV operator BSkyB has launched a High Court appeal against an order for it to cut the 17.9% stake it holds in commercial broadcaster ITV.

The Competition Appeal Tribunal last year ruled that Sky must reduce its stake to below 7.5%. Sky contends that the tribunal made mistakes with regard to the intensity of the review, the standard of proof used to rule that Sky was acting anti-competitively and the remedy sought.

Sky purchased the stake in ITV for £940m (€1bn) in November 2006.