BSkyB confirms talks to buy Fox's German, Italian TV assets

British Sky Broadcasting (BSYBF) is in preliminary talks to acquire 21st Century Fox's (FOX) stakes in Sky Deutschland (SKDTF) and Sky Italia in a deal that would create a pan-European satellite-TV giant.

Confirming weekend reports that discussions have taken place, BSkyB said it could purchase Fox's 57% stake in Sky Deutschland and then launch a mandatory takeover offer for the rest of the company, although not at a premium. Fox's holding in Sky Deutschland has a market value of over €3B, while its 100% stake in Sky Italia is worth €5B.

Bloomberg reported that BSkyB, which is 39% owned by Fox, could pay €10B ($14B) for the two stakes.

BSkyB's shares are -2.4% in London, while those of Sky Deutschland are +6.5% in Frankfurt. (PR)

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