Sky: 21st Century Fox Takeover Bid
Debate between Ed Miliband and Matt Hancock(7 years, 11 months ago)
Commons ChamberRead Full debate Read Hansard Text
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Matt Hancock
The decision has to be taken in the context of the world as we find it. The situation, as we find it, in terms of ownership is that 21st Century Fox owns 39% of Sky, and the notification to the stock exchange on Friday was about the proposal to buy the other 61%. Those issues will be taken into account when the decision is made.
Edward Miliband (Doncaster North) (Lab)
I understand the Minister’s complex position on these matters, but will he take into account the fact that when we compare the situation now with five years ago, when the House passed unanimously the motion saying that the bid should not go ahead, we see that we still have unresolved phone hacking issues in the courts and a system of self-regulation that has not satisfied the victims of phone hacking? Will he bear in mind this question—what has really changed since the House passed the motion five years ago? In my view, very little, which is why I believe the bid should be rejected.
Matt Hancock
It is enjoyable to be at the rerun of one of the right hon. Gentleman’s greatest hits. He says that my position today is complex, but actually it is very simple: we have not yet received a formal notification, and when we do, the Secretary of State will have 10 days to consider, under the Enterprise Act and other legislation, whether it is necessary to take action.