UK: Liberty Global acquires 6.4% of ITV from BSkyB for £481m (€608m)

The American cable operator Liberty Global acquired 6.4% of British TV channel ITV on 17/07/2014. The shares were sold by British pay-TV group BSkyB. The acquisition cost approximately £481m (€608m), Liberty Global said.

“This is an opportunistic and attractive investment for us in our largest cable market. ITV is the leading commercial broadcaster in the U.K. and we're excited to be shareholders,” said Mike Fries, CEO of Liberty Global.

BSkyB had acquired 17.9% of ITV in 2006, but had to reduce its share to 7.5% in 2010 as required by British competition authorities. BSkyB now possesses less than 1% of ITV's capital. The pay-TV group indicated, on 17/07/2014, that the funds generated by the last operation would be used "for operating purposes".

BSkyB affirmed, on 12/04/2014, that it had engaged in preliminary talks with its majority shareholder, American media group 21^st Century Fox, for the acquisition of its German and Italian counterparts, Sky Deutschland and Sky Italia, to create a European pay-TV market leader.

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