Vivendi May Dispose Of BSkyB Stake

French media group Vivendi Universal may dispose of its 22.7% stake in satellite broadcaster BSkyB, according to a report in this morning’s Financial Times. As a precursor to the move Vivendi is understood to be planning to withdraw its board director from the BSkyB board.

Vivendi was given the go ahead to acquire the stake in BSkyB, worth around £5 billion, in April 2000 following a public interest investigation by the Competition Commission. According to today’s report Vivendi may look to swap the stake for interests in other business, as a public sale of the stock would depress Sky’s share price.

Vivendi’s chairman Jean-Marie Messier confirmed that the company’s seat on the BSkyB board will be filled by a trustee pending a disengagement from the satellite broadcaster. However, there was no comment regarding a stake swap with USA Networks, as had been speculated by the FT.

Stock in BSkyB was unchanged at 1,195p midday today.

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