Great refusal from Germany to his majesty Rupert Murdoch. The management and the board of directors of Sky Deutschland have suggested to the shareholders not to sell their shares to BSkyB, a company owned by the Australian tycoon.
"The consideration proposed by the bidder - reads the document published today - does not reflect the potential and long-term intrinsic value of Sky Deutschland".
The overall design expects BSkyB to acquire the shares held by 21st Century Fox (another Murdoch-branded company) in Sky Italia and Sky Deutschland, then giving life to Sky Europe, a giant with 20 million subscribers ready to invest in the film and sports rights sector.
A few days ago the go-ahead from the European Commission also arrived, which did not recognize any risks to competition.
The move by the Sky Deutschland boards will not jeopardize the creation of Sky Europe, since BSkyB is already able to acquire a majority stake in the German company (in addition to the entire capital of Sky Italia) from 21st Century Fox. However, there is a risk of a long tug-of-war between central management and minority shareholders.
