itvVirgin Media is insisting that Sky’s offer to give up some of its ITV shareholder voting rights does not go far enough in reducing any influence it may have over the broadcaster.
Sky yesterday suggested putting three per cent of its voting rights in an independent trust. It comes after Competition Commission concern about the satellite giant’s holding.

However, Virgin has said the offer does not go far enough and Sky should sell its whole 17.9 per cent stake.
A spokesman said: “We would advocate a complete sell-down to avoid conflicts of interest.”

Virgin has also written to the Competition Commission saying “the retention of any stake by BSkyB would be problematic”.
Sky bought its stake in ITV just as Virgin was planning a takeover.

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By Expat