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BSkyB moves to gain control of Sky Deutschland, Sky Italia- Bloomberg

Published 10/05/2014, 00:11
Updated 10/05/2014, 00:16
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(Reuters) - British Sky Broadcasting Group Plc (L:BSY) is trying to gain control of Sky Deutschland AG (DE:SKYDn) and Sky Italia through a deal valued at 10 billion euros (8.16 billion pounds), Bloomberg reported quoting people familiar with the situation.

The deal will consolidate Rupert Murdoch's Europe-based pay TV assets by combining 21st Century Fox Inc's (O:FOXA) 39 percent stake in BSkyB with its 55 percent stake in Sky Deutschland and the wholly owned Sky Italia.

The companies have been in talks for months and a deal could be announced this summer, the report said.

The talks, however, could still fail to reach an agreement.

Murdoch-controlled Fox's stake in Sky Deutschland is valued at 3 billion euros, while Sky Italia is valued at about 5 billion euros, Bloomberg reported.

BSkyB and Fox declined to comment when contacted by Reuters.

(Reporting by Sruthi Ramakrishnan in Bangalore, Kate Holton in London and Jennifer Saba in New York; Editing by Joyjeet Das)

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