United battles for market supremacy

The Red Devils of Manchester United may have finally put Inter Milan away to qualify for the semi-finals of the European Champions…

The Red Devils of Manchester United may have finally put Inter Milan away to qualify for the semi-finals of the European Champions League, but they will need more than the luck they enjoyed on Wednesday to overcome the dent to their stock value as a result of rumours that the British Monopolies and Mergers Commission may block a takeover of the club by BSkyB.

The club's shares fell 9 per cent and those of the broadcaster by 2 per cent in the wake of the news. Among those crying foul was the MMC, which has competed its report into the proposed £623 million (€1 billion) deal and is now awaiting a decision from the British Minister for Trade and Industry, Stephen Byers.

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Dominic Coyle

Dominic Coyle

Dominic Coyle is Deputy Business Editor of The Irish Times