🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

BSkyB moves to gain control of Sky Deutschland, Sky Italia- Bloomberg

Published 10/05/2014, 00:11
Updated 10/05/2014, 00:16
BSBAy
-
AVA
-
TFCFA
-

(Reuters) - British Sky Broadcasting Group Plc (L:BSY) is trying to gain control of Sky Deutschland AG (DE:SKYDn) and Sky Italia through a deal valued at 10 billion euros (8.16 billion pounds), Bloomberg reported quoting people familiar with the situation.

The deal will consolidate Rupert Murdoch's Europe-based pay TV assets by combining 21st Century Fox Inc's (O:FOXA) 39 percent stake in BSkyB with its 55 percent stake in Sky Deutschland and the wholly owned Sky Italia.

The companies have been in talks for months and a deal could be announced this summer, the report said.

The talks, however, could still fail to reach an agreement.

Murdoch-controlled Fox's stake in Sky Deutschland is valued at 3 billion euros, while Sky Italia is valued at about 5 billion euros, Bloomberg reported.

BSkyB and Fox declined to comment when contacted by Reuters.

(Reporting by Sruthi Ramakrishnan in Bangalore, Kate Holton in London and Jennifer Saba in New York; Editing by Joyjeet Das)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.