In June BSkyB, in which Rupert Murdoch’s 21st Century Fox has a 39% stake, agreed to pay $9 billion for Fox’s 57% stake in Sky Deutschland, and all of the shares in the Fox-owned pay TV company Sky Italia to create a European pay TV giant with 20 million subscribers.
BSkyB was obliged under stock-market regulations to extend the same offer it had made to Fox, 6.75 euros ($8.44) per share, to other Sky Deutschland shareholders. BSkyB reported Thursday that it had received acceptances representing 87.45% of the issued share capital of Sky Deutschland, including Fox’s 57.45% stake.
The settlement of the takeover offer is expected to occur on Nov. 12.
Analysts said the higher than expected take up would increase BSkyB’s leverage, but boost its future earning power from European expansion, Reuters reported.