LONDON – Granada Group denied Friday that it intends to sell its 11% stake in British Sky Broadcasting.
BSkyB stock was down 26¢ at $8.65 on volume of $5.7 million on rumors of its intent. Granada stock, despite a 1.1% decline in the overall market, was up 12¢ to $13.35 on volume of 2.94 million shares.
A spokesman for Granada dismissed the speculation as completely without foundation. “It’s a rumor that’s grown rather wildly.’