Sky takes complete control of German unit

Sky has taken complete control of its German subsidiary after a successful squeeze-out of remaining shareholders.

The squeeze-out formed the only item on the agenda of Sky Deutschland’s final extraordinary general meeting, held in Munich yesterday, with Sky German Holdings GmbH offering €6.68 per share to the last hold-outs.

The squeeze-out moved onto Sky’s agenda in January after the UK-based pay TV operator passed the 95% threshold of ownership, enabling it to begin the procedure under German law. Sky initially acquired the 57% of Sky Deutschland held by its own 39% owner 21^st Century Fox last year.