Manchester United has hit back at the group of shareholders calling on City institutions to reject BSkyB’s offer for the football club. The media giant made the bid back in August, offering £625 million for the club (see Newsline)
Campaigning group Shareholders United Against Murdoch (SUAM) urged investors to hold on to their shares as they believe the £623 million BSkyB bid badly undervalues Manchester United.
Manchester United said a number of comments in SUAM’s statement were “materially erroneous or misleading”.
MP’s yesterday also voiced opposition to the BSkyB bid, with 46 signing a Commons early day motion. They consider that the bid going through will create an ‘unacceptable situation’ and be against the public interest. However, Peter Mandelson voiced support for the bid, claiming that obstacles could be overcome.
Earlier in the week, BSkyB bought a further 5.35 million shares of Manchester United, and now accounts for 28.8 million of the club shares, or 11.12%
BSkyB: 0171 705 3200 Manchester United: 0161 930 1968
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