Rupert Murdoch’s News Corp., which already abandoned its 7.8 billion-pound ($12.5 billion) bid for full control of British Sky Broadcasting Group Plc because of a phone-hacking scandal, is now being challenged on whether it should be allowed to keep its existing stake.
Vodafone Group Plc will give investors a sign of whether the cost of selling Apple Inc.’s iPhone is outweighing the benefits when the world’s largest mobile-phone company reports full-year earnings tomorrow.
British Sky Broadcasting Plc , the U.K.’s largest pay-TV provider, spurned a 7.8 billion-pound ($11.6 billion) offer from Rupert Murdoch’s News Corp. , asking for the bid to be raised by at least 14 percent.
Vodafone Group Plc Chief Executive Officer Vittorio Colao was under shareholder pressure to sell assets when he took over after his predecessors’ decade-long takeover binge. This week, he showed that his patience paid off.
Vodafone Group Plc ’s $6.5 billion sale of its stake in China Mobile Ltd. is the biggest divestment since Chief Executive Officer Vittorio Colao took charge in 2008. Investors are looking to him for more disposals.