BSkyB hires Barclays and Morgan Stanley to advise on acquisition of German and Italian assets from Fox
BSkyB has engaged Barclays and Morgan Stanley to advise on the acquisition of 21st Century Fox’s interests in Sky Italia and Sky Deutschland, The Sunday Times reported.
The report did not cite a source for the information, but said Nasdaq-listed Fox, controlled by the media magnate Rupert Murdoch, could see up to EUR 8.5bn from the deal. Senior figures from the finance and media sectors believe the transaction for the European pay-TV assets could be agreed within the next few months, the report said, although it added that others believe an agreement will take significantly longer.
Fox is the sole owner of Sky Italia, which is worth EUR 3bn-5bn, and has a 57% interest in Sky Deutschland, a German-listed company with a value of approximately EUR 3.5bn, the report said. It noted that Fox also holds 39% of BSkyB and will keep that level of ownership once the UK-listed company has acquired its European sister businesses.
Source Sunday Times