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Still on the block for British Telecommunications is Yell, its directories business that could either be spun off or sold, and a grab bag of minority assets in Asia.
The company had been widely expected to sell the stake as part of a new commitment to hive off its minority assets around the world.
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Losing BSkyB would be a startling blow for the News Corporation, but one that could be mitigated by the reaction of analysts and investors, who have long urged that the company shed some minority-owned assets in an effort to raise its share price.
But it is also possible that a retreat from BSkyB could be greeted positively by Wall Street, which has long called for News Corporation to shed some of its minority-owned assets in an effort to increase its share price, which trades below its major media competitors.
Underscoring the many ways companies can take part in the rescue fund, the Hispanic Chamber of Commerce and other Hispanic business groups met with Mr. Paulson to push for minority contracts in asset management, legal, accounting, mortgage services and maintenance jobs, like plumbing and masonry.
It's purely a greedy and selfish notion," says McClure. "Women and minorities are undervalued assets.
In a replay of the hostile takeovers, greenmailings and restructurings of the early 1980s in the U.S., Wyser-Pratte and other pioneers are beginning to reap big profits by taking minority stakes in asset-rich, poorly managed companies outside the the U.S., and then forcing management to unlock their hidden values.
Anglo American, one of the world's largest mining companies, has agreed to trade $863 million in nonmining assets for minority stakes in two competitors.
Investing in the tribal bank would help commercial banks fulfill federal requirements that they invest some assets in minority or community-based institutions.
Barry Diller, a minority shareholder in the assets, will not have the power to stop the deal, said Vivendi.Britain's government approved a merger between Carlton and Granada, the two companies that control the country's largest commercial-TV network.
The Russian government, Gazprom's largest shareholder with 38percentt, is trying to reassert control over the company after years of management by Mr. Vyakhirev's team, which has been accused by minority shareholders of funneling assets out of Gazprom into companies linked to themselves.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com