Rebel investors to challenge Murdoch

13 April 2012

RENEGADE shareholders are to challenge BSkyB directors directly at Friday's annual general meeting.

The National Association of Pension Funds, which normally shies away from face-to-face confrontations, is this time urging members to take on the Sky board openly.

Insurer Legal & General, which has 2.75% of the shares, has joined the opposition ranks. New chief executive James Murdoch flies back from Asia midweek as the storm over his appointment rages on. He plans to meet more big shareholders both before and after the meeting.

The NAPF had appeared to be softening its opposition, but on Sunday urged its members to air their grievances publicly on Friday. It reiterated 'grave concerns' about Sky's pay and governance. Unusually, it will send its own representative to the meeting.

Sky also has problems with the European Union, which is expected to rule that its exclusive deal to broadcast Premier League football live is unlawful.

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