LONDON, Oct 20 (Reuters) - British pay-TV group BSkyB said on Monday it would own at least 69 percent of Sky Deutschland once the takeover period closes, after more minority investors than expected signed up for the offer.
Britain’s dominant pay-TV provider agreed in June to pay $9 billion for Rupert Murdoch’s 57-percent stake in Sky Deutschland and all of Sky Italia to create a media company with 20 million customers.
Under stock market rules, BSkyB extended its 6.75 euros per share offer for the German business to other shareholders. But the bid was pitched at a small premium to Sky Deutschland’s price before the deal and the British company had said it was happy to only take the 57-percent stake.
The group said on Monday, however, that the combination of the acceptances received during the initial acceptance period and the Murdoch 21st Century Fox stake would result in it acquiring a minimum of 69 percent. A further acceptance period will run until Nov. 3.
Reporting by Kate Holton; editing by Jason Neely