GLOBAL - Satellite broadcaster BSkyB's plans to buyback up to 5% of its shares were passed at a shareholder meeting today, however the company announced it would not be extending the buyback scheme past the current financial year. A number of investors, including Hermes Pensions Management and the Association of British Insurers, voted against the proposal today as part of a dispute with Rupert Murdoch's (pictured) News Corp over its plans to extend "poison pill" anti-takeover provisions.
Commenting on the result, Peter Montagnon, ABI director of investment affairs, said: Investors have sent a very clear signal with this vote and it is rightthat the company has decided not to renew ...
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