BSkyB bids for Tiscali U.K. arm; Puls sold
MILAN — Rupert Murdoch’s media empire was active on two European fronts Monday: advancing in Blighty and retreating in Poland.
Italo broadband provider Tiscali reported Monday it was negotiating the sale of its British operation to the Murdoch-controlled paybox BSkyB, which boosted Tiscali stock by more than 40% to Euros 0.96 ($1.22).
The Murdoch-owned Sunday Times newspaper had reported the previous day that BSkyB was offering £450 million ($730.1 million) for the assets.
BSkyB shares rose by 2.77% to £3.89 ($6.26).
Meanwhile, BSkyB’s parent News Corp. announced it was pulling the plug on its Polish TV venture.
Murdoch’s media group announced on Monday that it will sell its indirect 35% stake in Polish television broadcaster Puls TV for an undisclosed sum to the remaining shareholders, who are the Franciscan religious order and chief executive Dariusz Dabski.
News Corp. had hoped to establish a presence in the booming Polish market but Puls failed to deliver.