BSkyB to pay $8 billion to create Sky Europe
LONDON, July 25
LONDON, July 25 (Reuters) - Britain's BSkyB has agreed to pay around 4.9 billion pounds ($8.3 billion) to buy Rupert Murdoch's pay-TV assets in Germany and Italy, responding to the slowing growth at home with a deal to create a European powerhouse.
It will pay for the deal with cash, debt and by a placing of shares that represents around 10 percent of the firm's issued share capital.
BSkyB said under the deal with Murdoch's 21st Century Fox , it would pay 2.45 billion pounds for Sky Italia and 2.9 billion pounds for Fox's 57 percent stake in Sky Deutschland to create a combined group with nearly 20 million customers.
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