BSkyB has bought out its three original partners in the British Interactive Broadcasting (BIB) business by issuing shares to the groups and so dissolving the partnership between them and Sky.
BT, HSBC and Matsushita were all partners in the BIB venture when it was developed towards the end of the 1990s, but their contract enabled them to sell back their stakes in the company in exchange for shares in Sky. BT has been issued with 20.8 million shares, worth over £120 million. HSBC received 12.8 million shares and Matsushita 9.6 million.
The exchanges give BSkyB full control of the BIB business, which is now run under the Sky Active banner.
