Twenty-First Century Fox Inc agrees to transfer Sky Italia and 57.4 pct interest in Sky Deutschland to BSkyB

Friday, 25 Jul 2014 02:40am EDT 

Twenty-First Century Fox Inc:Says it will transfer Sky Italia and its 57.4 pct interest in Sky Deutschland to BSkyB to create a pan-European digital television leader through the combination of these assets.In exchange for the transfer, it will receive about $9.3 bln in value from BSkyB comprised of about $8.6 bln in cash and BSkyB`s 21 pct interest in National Geographic Channels International, raising 21st Century Fox`s ownership stake to 73 pct.In addition, 21st Century Fox will participate in BSkyB`s announced equity offering by purchasing about $900 mln of additional shares in BSkyB to maintain its 39.1 pct ownership interest. 

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