Sky’s plans to fully own its pan-European satellite pay-TV platform have moved a step closer after it began to squeeze out the remaining shareholders of Sky Deutschland.
The company is initiating steps to buy up the 4 per cent of shares that it does not currently own. After Sky acquired a 57.4 per cent stake in Sky Deutschland from 21st Century Fox in July it went on to pick up almost 40 per cent of the remaining stock for around £5 per share. Investors held on to 4 per cent of the shares but they will now be forced to accept cash compensation from Sky for the stock, according to the rules of the German Stock Corporation Act.
The move means that Sky is set fully to own the platform, offering it greater opportunity to make savings across the group, which numbers over 20 million subscribers.