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    UPDATE: BSkyB receives permission for Sky Deutschland purchase

    This is a discussion on UPDATE: BSkyB receives permission for Sky Deutschland purchase within the Sky news and announcements forums, part of the SkyUser Announcements category; BSkyB has received clearance from the state media authorities in Bavaria, and Hamburg and Schleswig Holstein to go ahead with ...

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      UPDATE: BSkyB receives permission for Sky Deutschland purchase



      BSkyB has received clearance from the state media authorities in Bavaria, and Hamburg and Schleswig Holstein to go ahead with the purchase of 57.4% of Sky Deutschland.

      The purchase has also been voted for by the share holders of Sky Deutschland. Enough independent shareholders agreed to allow BSkyB to go ahead with the purchase. So BSkyB is now in the process of buying up the shares in accordance with the public offer.

      BSkyB are also looking to buy out Sky Italia.

      Previous story: BSkyB to create a world-class multinational pay TV business...


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      Re: UPDATE: BSkyB receives permission for Sky Deutschland purchase

      Now we know why of all the prices rises across sky's Platform.

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      Re: UPDATE: BSkyB receives permission for Sky Deutschland purchase

      I guess that the funds for this will come from the share holders of BSkyB, rather than the profits. Ultimately it will be they who own the whole group.

      With such a potentially large audience across the whole of Europe, Sky will have a huge influence upon all of our lives.

      Is this something that we would like?

      Rupert Murdoch's newspapers and media business in Australia has a certain reputation. News of the World was closed down under his watch.

      I would hope that the lessons have been learned and that things won't be repeated.

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      Re: UPDATE: BSkyB receives permission for Sky Deutschland purchase

      BSkyB has now confirmed that they now own 89.71% of Sky Deutschland and the acquisition of Sky Italia.

      http://corporate.sky.com/rns.aspx?PI...4283cbb6fb2c5e
      BSkyB completes acquisition of Sky Italia and 89.71 % of Sky Deutschland

      BSkyB has today completed its acquisition of Sky Italia S.r.l and takeover offer for Sky Deutschland AG.

      The Company has acquired 89.71% of the share capital of Sky Deutschland, with 87.45% acquired through the offer process and the balance acquired subsequent to the close of the offer acceptance period on 3 November 2014.

      The acquisition of Sky Italia was for a total consideration of £2.45 billion, satisfied by approximately £2.07 billion in cash and the balance through the transfer to 21st Century Fox of BSkyB's 21% stake in National Geographic Channel International.

      The acquisition of 87.45% of Sky Deutschland through the offer process was for a total consideration of €5.50 billion (representing €6.75 per share), with a further 2.26% being acquired at an average price of €6.20 per share, amounting to €5.63 billion in aggregate.

      Completion follows unconditional clearances from the EU and national media authorities; strong independent shareholder support for the transaction with 96% voting in favour; and the successful issuance of £5.8 billion in debt and equity transaction financing on attractive terms.

      Both Standard and Poor's and Moody's, the credit rating agencies, have indicated that BSkyB is expected to maintain its investment grade ratings, with Moody's announcing recently that it has revised BSkyB's rating to Baa2.

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      Re: UPDATE: BSkyB receives permission for Sky Deutschland purchase

      Would make a very good James Bond film!!!!!

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      Re: UPDATE: BSkyB receives permission for Sky Deutschland purchase

      Not looking forward to this or the Sky Italia purchase.

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      Re: UPDATE: BSkyB receives permission for Sky Deutschland purchase

      Perhaps we should expand the forum?

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      Re: UPDATE: BSkyB receives permission for Sky Deutschland purchase

      The following Press Release went out this morning:

      Sky creates Europe
      Sky has created Europe’s leading entertainment company after completing the acquisition of Sky Italia and a majority interest in Sky Deutschland.

      The enlarged group will serve 20 million customers across five countries: Italy, Germany, Austria, the UK and Ireland. It will also be one of the largest employers in the sector with 31,000 staff across 30 main sites.

      With a combined programme spend of £4.6 billion, Sky is Europe’s leading investor in television content and at the forefront of delivering services over broadcast, online and mobile platforms so that customers can enjoy great TV whenever and wherever they choose.

      By bringing together the three businesses, Sky will share strengths and expertise from across the group to serve customers better, accelerate innovation and grow faster. The new Sky will be built on a shared ethos of always pushing forward to provide customers with more choice, better content and a superior TV experience.

      The potential for future growth is significant. Over 60 million households have yet to take pay TV across the five markets in which Sky operates and there is also substantial opportunity to launch new services and bring additional products to more customers.

      In order to recognise the international scope of the business, following the acquisition the company will change its name to Sky, in place of British Sky Broadcasting (BSkyB). The company will be listed on the London Stock Exchange under the symbol SKY.

      As Group Chief Executive, Jeremy Darroch will oversee the enlarged group as well as continuing to lead the UK and Ireland business while Andrew Griffith will be Group Chief Financial Officer. Andrea Zappia will continue to lead the business in Italy as Chief Executive of Sky Italia and Brian Sullivan remains Chief Executive of Sky Deutschland AG.

      Jeremy Darroch, Sky’s Group Chief Executive, said:

      “The three Sky businesses will be even better together. We have the opportunity to create a business that can lead and shape our industry in the future. Customers will benefit as we launch exciting new services, bring them even more great TV and accelerate innovation across all of the markets in which we operate.

      “By joining together, we will share our strengths and expertise while retaining a strong identity in each country where we operate. The opportunity ahead is substantial and we believe the new Sky will be good for customers, content creators and shareholders alike.”

      Note:
      The change of the company’s name from British Sky Broadcasting Group plc to Sky plc is subject to shareholder approval at its AGM on 21 November 2014. The company’s stock exchange ticker will change to SKY from 14 November 2014.

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      Re: UPDATE: BSkyB receives permission for Sky Deutschland purchase

      ............and the share price dropped.

      TomD


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      Re: UPDATE: BSkyB receives permission for Sky Deutschland purchase

      Monopoly comes to mind and its a direct fight and threat to BT and Sky are training their own engineers up to counter BT with phone faults resolutions but where BT owns the infrastructure Sky Engineers will not have access to Sky's equipment in the exchanges.

      But if Sky have the buying power and their are big changes coming over the next 12 to 24 months (Project Ethan) I would not foresee a battle coming our way between Sky and BT.
      Disclaimer: The views expressed here are my own and in no way represent the views or policies of my employer.


     

     
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