Sky this week completed its takeover of Sky Deutschland, buying the remaining 4% of the company it did not already own for €6.68 per share.
"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," said Jeremy Darroch, CEO of Sky, in a statement on Tuesday.
Now it owns 100% of Sky Deutschland, the company will be delisted from the Frankfurt Stock Exchange.
Sky agreed to acquire 21st Century Fox’s 57.4% stake in Sky Deutschland in July 2014 for €3.95 billion. As part of that deal it was obliged to extend the same offer to minority shareholders.
At the same time, it also agreed to buy Sky Italia for €3.34 billion, creating a pan-European triple-play provider.
In the 12 months to 30 June, Sky’s overall customer base increased to 21 million from 20.1 million, helped by 455,000 net additions at its U.K. and Ireland business, and 372,000 additions in Austria and Germany combined. In Italy, its customer base edged up to 4.73 million from 4.70 million.
"Across the five countries in which Sky operates, the potential for growth is significant as 65 million households are yet to take pay TV," Sky noted on Tuesday. "There are also substantial opportunities to launch new services and bring additional products to more customers."
