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Sky Deutschland boards reject takeover bid from BSkyB
2014-09-17 09:52:00| Telecompaper Headlines
(Telecompaper) The management and supervisory boards of Sky Deutschland have recommended shareholders do not accept BSkyB's takeover bid for the company. In a joint statement, the boards said the offer "does not reflect the full potential and thus intrinsic value of Sky Deutschland's business". A fairness opinion obtained for BofA Merrill Lynch also found the offer inadequate. The UK company is offering EUR 6.75 per share for the German pay-TV provider, a premium of only 6.5 percent on the share price the day prior to when BSkyB first announced plans for an offer. This is less than most analyst price targets for the company's shares and less than recent similar takeovers in the sector, according to the boards. Their own discounted cash flow analysis also came to a higher valuation for the company. The takeover offer is open until 15 October. BSkyB earlier reached an agreement to buy 57.4 percent of Sky Deutschland shares from 21st Century Fox.
Tags: deutschland
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Sky Deutschland bosses reject BSkyB bid
2014-09-17 02:00:00| Total Telecom industry news
German pay TV provider says offer does not reflect company's full potential.
Tags: deutschland
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BSkyB launches weekly PAYG sports option for NOW TV
2014-08-11 10:20:42| Digital TV News
BSkyB's NOW TV has announced the launch of a weekly pass for sports fans looking to watch Sky Sports. Available initially for 10.99, the Sky Sports Week Pass will offer all 7 Sky Sports channels for 7 days.
BSkyB pays 5bn to create Sky Europe
2014-07-25 09:24:12| BBC News | Business | UK Edition
BSkyB wants to take over Rupert Murdoch's pay TV companies in Germany and Italy in a move that would create a company with 20 million European viewers.
BSkyB acquires Sky Deutschland, Sky Italia for GBP 4.9 bln
2014-07-25 08:43:00| Telecompaper Headlines
(Telecompaper) British Sky Broadcasting (BSkyB) has agreed to buy Sky Deutschland and Sky Italia from 21st Century Fox for a total of GBP 4.9 billion cash. The deal creates a new business, already dubbed 'Sky Europe' by the media, that will be the leading pay TV provider in three of Europe's four biggest markets, serving a total of 20 million customers. The news comes two months after the BSkyB said it was in talks with Fox, which is its biggest shareholder as well as the owner of Sky Italia and 57.5 percent of Sky Deutschland. BSkyB will pay for the deal with cash, debt and by a placing of shares that represents around 10 percent of the firm's issued share capital. In total, BSkyB confirmed it would pay GBP 2.45 billion for Sky Italia and GBP 2.9 billion for Fox's majority stake in Sky Deutschland. The payment for Sky Italia will also include BSkyB's stake in the National Geographic Channel, valued at GBP 382 million. In addition to the enhanced growth profile of the business, BSkyB expects to realise GBP 200 million of run-rate cash synergies by the end of the second full financial year after completion, with further additional synergies to come in subsequent periods.
Tags: deutschland
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