Shares in ITV tumble to all-time low

Shares in ITV PLC hit a new all-time low yesterday (Monday) amid fears that Sky will be forced to sell its 17.9% holding in the company.

At close of trading, the share price was down 2% to 84.3p, its lowest level since the merged company's market entrance almost four years ago.

The news means that if Sky is forced to sell its stake, it will lose more than £300 million, having bought at 135p a share a year ago.