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News Corp/BSkyB bid approval 'could take weeks'

UK regulators could take weeks to come to a decision over News Corp's bid for BSkyB.

10 May 2011

Regulatory approval for a proposed takeover bid of BSkyB by News Corp may take a number of weeks to achieve.

This is according to a Reuters report, which cited the insights of a source close to the issue - who claimed that the process is ongoing.

Merger and acquisition consultants may be required after the source suggested that details surrounding the bid are still being "ironed out".

It was alleged that regulatory authorities in the UK are likely to settle these issues within the next couple of weeks.

Once approval is secured on the deal, the two parties can proceed with business negotiations surrounding the amount of money involved in the bid.

Earlier in the week, Telegraph columnist Amanda Andrews spoke to a number of BSkyB's major shareholders, who claimed that they expect the firm to pay a £2.5 billion dividend in the event that the offer is dismissed on price grounds.

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