BSkyB shares hit a high after Competition Appeal ruling

BSkyB’s share price briefly reached a nine-month high yesterday following news of the Sky Sports victory against Ofcom.

The broadcaster’s share price rose 19p (over 2.5%) to 762p in early trading on Thursday.

The Competition Appeal Tribunal ruled that Ofcom’s concerns over the way Sky sold its sports channels were “unfounded”.

The ruling follows a two-year legal battle after Ofcom ordered BSkyB to sell Sky Sports 1 and 2 to competitors for up to 23% less than the previous wholesale price in March 2010.

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