MAY 20, 2002
Kirch rejects BSkyB's option
THE KIRCH GROUP has said that BSkyB has no right to trigger an option which would result in the collapse of Taurus Holding, the holding company of the entire Kirch group. BSkyB was trying to off-load its 22% share in the insolvent Kirch PayTV company and has a put option which it argues can be exercised earlier than was first thought.
The dispute will have little effect on Kirch as the entire group is now, in effect, controlled by creditor banks.
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