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BSkyB's German stake could get bigger on euro zone jitters | |
(about 2 hours later) | |
BSkyB chief executive Jeremy Darroch has signalled the British pay-TV firm could end up with a larger-than-expected stake in Sky Deutschland as concerns about the German economy may encourage shareholders to sell. | BSkyB chief executive Jeremy Darroch has signalled the British pay-TV firm could end up with a larger-than-expected stake in Sky Deutschland as concerns about the German economy may encourage shareholders to sell. |
Darroch, reporting an 11 per cent rise in quarterly profits to £316 million, said: “I wouldn’t be surprised if we get a lot more take-up, and I think particularly the volatility we are seeing is probably making people reflect on that.” | Darroch, reporting an 11 per cent rise in quarterly profits to £316 million, said: “I wouldn’t be surprised if we get a lot more take-up, and I think particularly the volatility we are seeing is probably making people reflect on that.” |
BSkyB, which will complete its merger with Sky Italia and Sky Deutschland next month to create a pan-European giant, has already agreed to buy 57 per cent of the German firm from Rupert Murdoch’s 21st Century Fox. | BSkyB, which will complete its merger with Sky Italia and Sky Deutschland next month to create a pan-European giant, has already agreed to buy 57 per cent of the German firm from Rupert Murdoch’s 21st Century Fox. |
Sky Deutschland’s board recommended last month that independent shareholders should not accept the €6.75 (£5.40) per share offer, but sentiment is shifting amid an economic slowdown in Germany. | Sky Deutschland’s board recommended last month that independent shareholders should not accept the €6.75 (£5.40) per share offer, but sentiment is shifting amid an economic slowdown in Germany. |
BSkyB’s revenues rose 6 per cent to £1.92 billion thanks to a surge in mobile and on-demand service Sky Go Extra and a “very strong quarter” from Sky Sports, with the Ryder Cup golf, pictured, and new football season. | BSkyB’s revenues rose 6 per cent to £1.92 billion thanks to a surge in mobile and on-demand service Sky Go Extra and a “very strong quarter” from Sky Sports, with the Ryder Cup golf, pictured, and new football season. |
Pre-tax profit nearly trebled as BSkyB banked a £429 million gain from selling its stake in ITV. | Pre-tax profit nearly trebled as BSkyB banked a £429 million gain from selling its stake in ITV. |
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