BRIEF-Sky Deutschland shareholder says BSkyB's offer undervalues company

July 29 Tue Jul 29, 2014 9:17am EDT

July 29 (Reuters) - Odey Asset Management LLP:

* Holder of approximately 8 pct of issued share capital of Sky Deutschland AG, notes BSkyB's formal announcement regarding integration of European pay-TV operations of 21st Century Fox

* Does not intend to tender its shares in this proposed offer

* Continues to believe that current proposal, effectively a nil premium takeover offer to minority shareholders of Sky Deutschland AG, significantly understates value of company. Further company coverage: [BSY.L FOXA.O]