News breaking a few moments ago 14 Sept
- refers 21st Century Fox-Sky merger to competition watchdog over media plurality and broadcast standards
Rupert Murdoch's planned $15bln takeover of Sky being referred to regulators with UK culture minister Karen Bradley saying she's noting Fox's planned purchase of the 61% of Sky it doesn't already own to the CMA ( Competition and Markets Authority) to look into corporate governance.
Bradley has told parliament.
"Yesterday I received letters on behalf of both parties to the merger, confirming that while they disagree with my 'minded to' decision they would not be making substantive representations in relation to it,"
"As a result, I can confirm that my 'minded to' decision is now final and I will now refer the merger to the CMA for a phase 2 investigation on media plurality and genuine commitment to broadcasting standards grounds"
The CMA will provide their response within 24 weeks of the referral. Bradley will then decide whether the deal may proceed.
Meanwhile GBP focus remains on the BOE decision at 11.00 GMT
GBPUSD lower again at 1.3192 with EURGBP 0.9015 having failed into 0.9025 as per my order board post.
