BSkyB poised to agree takeover of Sky Deutschland and Sky Italia within two weeks
BSkyB, a listed UK-based satellite television broadcaster, is poised to agree a takeover of European counterparts Sky Deutschland and Sky Italia within two weeks, The Sunday Times reported. The newspaper cited unspecified sources for the claim.
The Sunday Times is published by News Corporation, a listed New York City-based news company that was split off from Twenty-First Century Fox last year. As previously reported, Rupert Murdoch and his family are controlling shareholders in both companies due to their holdings of voting shares.
Twenty-First Century Fox owns controlling stakes in Sky Deutschland and Sky Italia and stands to receive more than EUR 8bn (USD 10.82bn) from the deal, according to the report.
Fox holds a 57% stake in Sky Deutschland, for which it would be paid about EUR 3.5bn, the item said. Sky Italia has a valuation in the range of EUR 3bn and EUR 5bn, the article said.
Talks with Sky Deutschland’s minority shareholder have been an obstacle to a deal, the report continued.
Twenty-First Century Fox owns 39% of BSkyB, and the deal for Sky Italia and Sky Deutschland poses questions about Fox’s plans for the satellite broadcaster, the item said. Murdoch tried to acquire full ownership of BSkyB in 2011 but decided against making an offer due to a scandal at News Corporation involving phone hacking.
Some sources think Fox will try to acquire BSkyB outright after it has completed its proposed takeover of Time Warner, the article continued.
Source Sunday Times