Sky PLC Sky completes full acquisition of Sky Deutschland

TIDMSKY

RNS Number : 0810Z

Sky PLC

15 September 2015

Sky completes full acquisition of Sky Deutschland

Sky has consolidated its position as Europe's leading entertainment company after completing the acquisition of the remaining shares in Sky Deutschland.

With 100% ownership of Sky Deutschland, Sky is able to take full advantage of future growth opportunities across each of its five territories, and share strengths and expertise from across the group to serve customers better, accelerate innovation and grow faster.

Across the five countries in which Sky operates, the potential for growth is significant as 65 million households are yet to take pay TV. There are also substantial opportunities to launch new services and bring additional products to more customers.

Jeremy Darroch, Sky's Group Chief Executive said: "The full acquisition of Sky Deutschland is the latest step in creating an even stronger business for the future. The opportunity ahead is substantial and we have a strong platform on which to build and deliver benefits for customers and shareholders alike."

Sky completed the acquisition of the remaining approximately 4% minority shareholdings in Sky Deutschland AG earlier today, with the cash compensation for the minority shareholdings set at EUR6.68 per share, in accordance with the requirements of the German Stock Corporation Act. Sky Deutschland AG will shortly be delisted from the Frankfurt Stock Exchange.

About Sky:

Sky is Europe's leading entertainment company. The group serves 21 million customers across five countries: UK, Ireland, Germany, Austria and Italy. Sky has annual revenues of over GBP11 billion and is Europe's leading investor in television content with a combined programming budget of over GBP4.9 billion. The group employs 30,000 people and is listed on the London Stock Exchange (SKY).

For more information visit www.sky.com/corporate

For more information:

Analysts/ Investors:

Edward Steel Tel: [phone]

Email: [e-mail]

Media:

   Eleanor Mills   Tel: [phone] 

Email: [e-mail]

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQGCGDCDXBBGUU

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

September 15, 2015 06:00 ET (10:00 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.