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Reports: Vivendi, Vodafone tried to buy Fox's Sky stake

Jun. 23, 2015 8:03 PM ETVivendi SE (VIVHY) StockVOD, VIVEF, VIVHY, SKYAY, FOXA, FOX, VODPFBy: Jason Aycock, SA News Editor1 Comment
  • Vivendi (OTCPK:VIVHY) and Vodafone (NASDAQ:VOD) reportedly approached Twenty-First Century Fox (FOX, FOXA) about giving up its 39% stake in Sky (OTCPK:SKYAY) -- but were rebuffed after the Murdochs started asking for a 73% premium.
  • Both companies have been linked with the British satellite broadcaster in the past. Macquarie noted that instead of setting up an asset swap with Liberty Global, a "more rational" play for Vodafone would be a content play with Sky -- and one in keeping with its 2013 buy of Kabel Deutschland.
  • Meanwhile, Vivendi was reported to have made a bid for Sky in April, but denied that.
  • That leaves speculation that Fox might want to buy the rest of Sky, having failed that in 2010 when the UK phone hacking scandal got in the way, but Sanford Bernstein's Claudio Aspersi doubts that: “If Fox is hoping to make another run at Sky in the near-term (in spite of the political opposition which likely remains high), we don't understand why they'd anchor the bid at such a high price."
  • Previously: Vodafone -2.2% after dampening Liberty merger talk (Jun. 05 2015)
  • Previously: Reuters: Vivendi may be eyeing £28B deal for Sky (Apr. 08 2015)

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