BSkyB shares leap after 10m customer milestone
Shares in BSkyB today jumped 8p to 728p as the pay-TV giant announced a major milestone by hitting 10 million customers.
Traders reckoned Sky's success means Rupert Murdoch's News Corp will have to increase its 700p-a-share offer to buy the 61% of the satellite broadcaster that it does not already own.
The independent directors have demanded 800p a share but want regulators to approve any bid first.
While Britain's biggest pay-TV firm had long been expected to reach 10 million customers by the end of 2010, the timing of the announcement came as a surprise.
Just four days ago, UK and European regulators launched investigations into whether News Corp, which already owns The Sun and The Times, can buy all of Sky.
Murdoch insists the public interest and competition will not be harmed by a News Corp takeover.
Rupert's son James, who chairs Sky, can claim today's achievement as a personal triumph. He set the 10 million target in 2004 when he was chief executive.
A Sky spokesman said the pay-TV giant wanted to tell the City and let staff celebrate now, rather than waiting until its next quarterly results early next year. The company invested hugely in marketing in the year to June, spending £1.1 billion on new customers and set-top boxes.
