Foreign Minister Alexander Downer today said he did not accept chief US weapons inspector David Kay's opinion that there were no weapons of mass destruction in Iraq.

The structure of the transaction is enormously complex. To acquire the voting shares, Malone swapped 21.2 million nonvoting American depositary receipts and $693 million in cash for 48 million voting ADR's. After the transaction, Liberty will own 210.8 million nonvoting ADR's and 48 million voting ADR's. The company said in its filing that it bought 9.3 million voting ADR's over the past 60 days and 22 million voting shares on Tuesday, but it did not explain how or when it had acquired the remaining 17 million shares.
But there are reasons to believe that Malone may not be quite so bullish on News Corp as the company lets on. For a start, Liberty has agreed to sell the bulk of its recent purchase in five years time for $1.2 billion in cash to Citigroup.