Pearson Leads BSkyB Sell

Granada, Pearson and Pathe have sold 19.5 million shares in BSkyB to BZW for an institutional placing. This equates to 1.1% of BSkyB.

The agreement was handled by the companies’ joint venture BSB which holds 12.8% of BSkyB. According to reports, the proceeds from the sale will be used to restructure BSB’s share and loan capital, creating an arrangement whereby BSB shareholders will be able to gain more from their investments.

The market did not react well to the news: at 3pm Pearson was down 2.5 to 788.5p; BSkyB was down 1.5 to 631.5p and Granada had fallen 2 to 976.5p.

Pearson: 0171 411 2000