Sky PLC Sky completes full acquisition of Sky Deutschland
15 September 2015 - 8:15PM
Dow Jones News
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RNS Number : 0810Z
Sky PLC
15 September 2015
Sky completes full acquisition of Sky Deutschland
Sky has consolidated its position as Europe's leading
entertainment company after completing the acquisition of the
remaining shares in Sky Deutschland.
With 100% ownership of Sky Deutschland, Sky is able to take full
advantage of future growth opportunities across each of its five
territories, and share strengths and expertise from across the
group to serve customers better, accelerate innovation and grow
faster.
Across the five countries in which Sky operates, the potential
for growth is significant as 65 million households are yet to take
pay TV. There are also substantial opportunities to launch new
services and bring additional products to more customers.
Jeremy Darroch, Sky's Group Chief Executive said: "The full
acquisition of Sky Deutschland is the latest step in creating an
even stronger business for the future. The opportunity ahead is
substantial and we have a strong platform on which to build and
deliver benefits for customers and shareholders alike."
Sky completed the acquisition of the remaining approximately 4%
minority shareholdings in Sky Deutschland AG earlier today, with
the cash compensation for the minority shareholdings set at EUR6.68
per share, in accordance with the requirements of the German Stock
Corporation Act. Sky Deutschland AG will shortly be delisted from
the Frankfurt Stock Exchange.
About Sky:
Sky is Europe's leading entertainment company. The group serves
21 million customers across five countries: UK, Ireland, Germany,
Austria and Italy. Sky has annual revenues of over GBP11 billion
and is Europe's leading investor in television content with a
combined programming budget of over GBP4.9 billion. The group
employs 30,000 people and is listed on the London Stock Exchange
(SKY).
For more information visit www.sky.com/corporate
For more information:
Analysts/ Investors:
Edward Steel Tel: 020 7032 2093
Email: investor-relations@sky.uk
Media:
Eleanor Mills Tel: 020 7032 6615
Email: skypress@sky.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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September 15, 2015 06:00 ET (10:00 GMT)
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