Shares in ITV PLC (LSE:ITV) rose 1.2% after Europe's top court annuled a previous regulatory ruling against the UK over purported state aid payments.
The Court of Justice of the European Union sided with the UK in its fight against the European Union's order to recover millions from companies including ITV and the London Stock Exchange Group PLC (LSE:LSEG).
This is related to a 2019 decision by European Commission regulators over businesses using the UK-controlled foreign companies regime.
In a statement today, the EU’s Court of Justice said: “The court annuls the Commission decision finding certain United Kingdom rules on the taxation of controlled foreign companies to be state aid incompatible with the internal market and sets aside the judgment of the General Court confirming that decision.”