British Sky Broadcasting Group buys a minor stake in ITV

British Sky Broadcasting Group buys a minor stake in ITV

UK Based pay-television company British Sky Broadcasting Group Plc has said in a statement that they have bought 17.9 percent stake in the ITV Plc for about 940 million pounds.

The company further added that they are exploring further options though they are not considering acquiring more than 19.9 percent of ITV.

BSkyB said in a statement: ” BSkyB wishes to explore options to create value in the interests of both BSkyB’s and ITV’s shareholders.”

This deal would come as a disappointment for NTL Inc, which is currently the biggest U.K. cable-television company. They had recently approached ITV with a potential takeover offer.