STOCKS NEWS EUROPE-Sky Deutschland down on subscriber figs

Shares in Sky Deutschland (SKYDn.DE) fall 7.4 percent, making them the biggest decliners among German midcaps .MDAXI, after the cable TV broadcaster reports disappointing third-quarter figures, which include shrinking subscriber growth.

"At the current stage investors should focus on subscriber growth and average revenue per user (ARPU). Subscriber growth of only 67,000 in the third quarter is clearly a disappointment," says analyst Andreas Heinold from LBBW.

"We always expected that it will be quite difficult for the company to reach its subscriber target at the end of 2010. The reduced guidance for subscriber growth is a good indication that the management might have overestimated the willingness of the German population to pay for Pay TV." For more double click on [ID:nLB703116]

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