The government has reportedly accepted the formal commitments to this effect from the broadcaster, which will bring down BSkyB's holding to just 7.5 per cent.
Investment bank Morgan Stanley will act as the sole book runner for the share placement. Based on the closing share price of 51.3p, BSkyB will receive £207m. The broadcaster is registering a loss of £339m on these shares, after acquiring them for £546m.
A Goldman Sachs analyst said that the financial implications of this deal are immaterial as the group has already taken the hit on the fall in value of ITV's shares, after a series of write downs on the stake.