BSkyB sells United

Broadcaster BSkyB has sold a tranche of its shares in Manchester United after a demand from the FA Premier League. The Premier League turned down Manchester United's request that the broadcaster be allowed to retain an 11.1 per cent shareholding in the club. Manchester United issued a statement after the stock market closed stating that BSkyB had sold 2.9 million shares, taking its ownership down to 9.99 per cent.