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BSkyB to acquire of Sky Italia and 57.4% stake in Sky Deutschland

BSkyB has entered into agreements with 21st Century Fox to acquire 21st Century Fox’s 100% stake in Sky Italia and its 57.4% interest in Sky Deutschland. The enlarged company will be a world-class multinational pay TV provider that serves 20 million customers and brings together the leading pay TV businesses in three of Europe’s four biggest markets

The total consideration for the acquisition of Sky Italia is £2.45 billion with approximately £2.07 billion to be paid in cash and the balance to be satisfied through the transfer of BSkyB’s 21% stake in National Geographic Channel International to 21st Century Fox at a value of £382 million1.

The acquisition of 21st Century Fox’s shareholding in Sky Deutschland is for a consideration of £2.9 billion in cash, valuing Sky Deutschland at €6.75 per share. The transactions are subject to regulatory and independent shareholder approval.

“This transaction will create a world-class, multinational pay TV business with enhanced headroom for growth and immediate benefits of scale,” says Jeremy Darroch, BSkyB’s Chief Executive. “The three Sky businesses are leaders in their home markets and will be even stronger together. By creating the new Sky, we will be able to use our collective strengths and expertise to serve customers better, grow faster and enhance returns.”

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