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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/bskyb-shares-soar-after-cable-gaffe.jpg"><img class="alignnone size-full" title="Rupert Murdoch's News Corp is aiming to take control of BSkyB" src="http://londonglossy.com/wp-content/uploads/2010/12/min-bskyb-shares-soar-after-cable-gaffe.jpg" alt="Rupert Murdoch's News Corp is aiming to take control of BSkyB"/></a></p>
<p>BSkyB shares have leapt higher as experts said Vince Cable&#8217;s embarrassing own goal increased News Corp&#8217;s chances of gaining clearance for its Sky takeover.</p>
<p>Shares in the broadcasting giant rose 2% on Wednesday &#8211; to their highest level since Rupert Murdoch&#8217;s company launched his bid in June &#8211; after Investec Securities said the probability of News Corp being given the green light to acquire the remaining 61% of BSkyB it does not already own had risen to 90% from 66%.</p>
<p>The stripping of Mr Cable&#8217;s responsibility for media regulation following his comments to undercover newspaper reporters will now see the final decision rest with Culture Secretary Jeremy Hunt.</p>
<p>He is due to receive a report on media plurality from regulator Ofcom at the end of the month.</p>
<p>But the European Commission has already given the deal the go-ahead, saying it is confident the proposed acquisition &#8220;will not weaken competition in the UK&#8221;, while Mr Hunt told the Financial Times in June that &#8220;it does seem to me that News Corp do control Sky already&#8221;.</p>
<p>Investec&#8217;s media analyst Steve Liechti said: &#8220;We believe the proposed takeover is now a lot more likely.&#8221;</p>
<p>He added: &#8220;Given that, in our view, Sky is likely to appeal or litigate any adverse opinion into the ground now, we move our probability of takeover to 90%.&#8221;</p>
<p>News of Mr Murdoch&#8217;s bid for Sky in June had already sent the group&#8217;s shares soaring &#8211; hitting their highest level since February 2004 in recent weeks.</p>
<p>In June, BSkyB rejected News Corp&#8217;s 700p-a-share approach, which values the FTSE 100 Index company at around £12 billion. Sky said the proposal significantly undervalued the business and called for an offer in excess of 800p a share.</p>
<p>Despite their differences over price, the two parties agreed to work together on the regulatory process required for a tie-up.</p>
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