RTL, Saban 'interested in Sky's ITV stake'

Five owner RTL and media mogul Haim Saban have signalled an interest in buying Sky's stake in ITV, according to a report.

The Competition Commission, backed by the government, has told Sky it must reduce its 17.9% holding to below 7.5%.

The satellite broadcaster has submitted an appeal and, if it is forced to sell, Sky is likely to lose millions of pounds because of falls in ITV's share price.

Yesterday's Sunday Telegraph said RTL had held talks with Sky in the past and recently expressed renewed interest. Variety today suggested that, should RTL be successful, it may go on to bid for the whole of ITV.

Saban made his name in entertainment and is credited with creating The Power Rangers. He has also had involvement with News Corp - Sky's largest shareholder - through Fox in the US.