The UK Competition Commission cancels an inquiry following bid withdrawal (News Corp/ BSkyB)

Summary On 25 July 2011, the Competition Commission (CC) announced that it had cancelled its inquiry into News Corporation’s (News Corp) proposed acquisition of the remaining 60.9% share in the British Satellite Television services provider, British Sky Broadcasting Group Plc (BSkyB). The cancellation followed News Corp‘s announcement to withdraw its offer to acquire the outstanding shares, following immense public pressure. Following revelations about alleged «phone hacking« and the closure of The News of the World, the Secretary of State for Culture, Olympics, Media and Sport (Secretary of State) asked the OFT and Ofcom to reconsider whether the Undertakings in lieu of a reference (the Undertakings), offered by News Corp in exchange for clearance to acquire the outstanding issued

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  • DLA Piper (London)

Quotation

Ilan Sherr, The UK Competition Commission cancels an inquiry following bid withdrawal (News Corp/ BSkyB), 25 July 2011, e-Competitions Bulletin July 2011, Art. N° 37671

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