Man United shareholders lobby Takeover Panel
Saturday 10 October 1998
A pressure group led by the broadcaster Michael Crick, called Shareholders United Against Murdoch, claims to have tapes proving that a helpline set up by BSkyB to advise Manchester United shareholders on the offer is giving inaccurate advice.
SUAM alleges that the helpline's advisers do not make it clear to callers that they do not have to accept BSkyB's offer for their shares.
The allegations come amid mounting opposition to the takeover. The Office of Fair Trading is currently investigating whether to recommend referring the bid to the Monopolies and Mergers Commission. It is due to pass its recommendations to Peter Mandelson, the Secretary of State for Trade and Industry, on 2 November.
BSkyB has offered Manchester United shareholders three different forms of payment - cash, loan notes and a mixture of cash and BSkyB shares. However, shareholders also have the option to reject the offer .
"Many shareholders are not used to this kind of thing and are confused about their options," a spokesman for SUAM said.
The group wants BSkyB to withdraw its offer document and return any shares that have already been voted in favour of the offer.
A spokesman for the Takeover Panel said: "Clearly if people raise issues with us it's up to us to follow it up. It's something we will have to look into."
However, the panel has rejected an earlier claim by SUAM that BSkyB's offer document itself is misleading.
"The view we have taken to date is that the document is not misleading if you consider it as a whole," the panel spokesman said.
A spokesman for BSkyB dismissed the allegations. "There is nothing wrong with our offer document. It is very clear and the Takeover Panel have no problem with it," he said. "It is an offer document, so of course it talks about offering to buy shares."
- 1 Tourist films plane's descent just metres above packed Caribbean beach
- 2 Indian woman creates 'Marriage CV' after parents put her on dating site: 'Definitely not marriage material. Won’t grow long hair, ever'
- 3 World Book Day: Boy 'excluded' from school after dressing up as Fifty Shades' Christian Grey
- 4 Bad Jews poster 'censored' on London Tube
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
Tourist films plane's descent just metres above packed Caribbean beach
Indian woman creates 'Marriage CV' after parents put her on dating site: 'Definitely not marriage material. Won’t grow long hair, ever'
Isis 'bulldozes' Nimrud: UNESCO condemns destruction of ancient Assyrian site as a 'war crime'
Professor Brian Cox brands astrology-believing Tory MP David Tredinnick an 'outlier on the spectrum of reason'
Lynch mob kills suspected rapist in India after dragging him naked for four miles through city
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Durham Free School: 'Creationism taught at' free school facing closure
End of the licence fee: BBC to back radical overhaul of how it is funded
Elif Shafak: Turkish author warns against rise of British nationalism
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
iJobs Money & Business
£13000 per annum: Recruitment Genius: This is an exciting opportunity to join ...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£12 - £15 Hourly Rate: Jemma Gent: In this role you will report to the Head of...
£8 per hour: Recruitment Genius: This Pension Specialist was established early...