Media: Sky Deutschland advises minority shareholders not to sell their shares to BSkyB

The executive board of the German pay-TV group Sky Deutschland told minority investors not to sell their shares as part of BSkyB’s multibillion-dollar takeover approach for the German channel, the group revealed on 17/09/2014.

BSkyB announced, on 25/07/2014, that it had reached an agreement with US-based 21^st Century Fox to take over the latter's shares in the capital of the Italian pay-TV group Sky Italia (100%) and its shares in the German sister company, Sky Deutschland (57.4%). The acquisition of the 57.4% of Sky Deutschland would take place in the form of a takeover bid set at €6.75 per share, valuing the transaction at around €3.7bn.

Sky Deutschland believes, after consultation with financial analysts, that their share price, as of 12/09/2014, is worth about €7.21 euros, or 6.8% more than the €6.75 offered by BSkyB. The German group added that the low penetration of pay-TV in the German and Austria markets offers key development opportunities for Sky Deutschland that must be taken into account.

"The executive board and the supervisory board believe that what is proposed by…