BSkyB will lodge an appeal against the Competition Commission's verdict that it should slash its 17.9% stake in ITV to below 7.5%.

According to reports, an appeal will be notified to the Competition Appeal Tribunal towards the end of the week. It will underline the satellite giant's anger at the judgment and outline a series of errors made by the Commission when reaching the judgment.

Earlier this month, Sky reported a first-half loss after writing down the value of its stake in ITV by£343m. The write-down also triggered a£112m pre-tax loss - the first time Sky had slipped into the red for six years.

It acquired the 17.9% stake in ITV after a£940m “dawn raid” in November 2006. Shares in ITV were trading at 69.9p this morning, up 0.72% on Friday's close.

Sky was unavailable for comment.