Sky said that it completed the buyout of the remaining, approximately 4% of minority shareholdings in Sky Deutschland earlier today, with Sky Deutschland now due to be delisted from the Frankfurt Stock Exchange.
The cash compensation for the minority shareholdings was set at €6.68 per share, in accordance with the requirements of the German Stock Corporation Act.
“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,” said Sky Group CEO Jeremy Darroch.
Sky bought out Sky Deutschland and its sister company in Italy last November, creating a single international Sky operating across the UK and Ireland, Germany and Austria, and Italy.
As of June, when Sky announced pricing for the Sky Deutschland squeeze out, the firm held 96.05% of the shares in Sky Deutschland.
Sky said today that with the 100% ownership of Sky Deutschland it is now 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,” said Sky.
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29 October 2020 @ 18:00:00 UTC