BSkyB has completed the acquisition of British Interactive Broadcasting Holdings (BIB), the company which owns and operates the Open interactive TV service.
Sky has bought out BT’s stake in BIB, after the telecommunications company decided to exercise its option to exit the group, following Sky’s acquisition of HSBC and Matsushita’s holdings last week (see City News).
The terms of the agreement will see BSkyB initially issue 19.1 million new shares in 45 days’ time in consideration for BT’s 19.9% shareholding in BIB. The total number of new BSkyB shares being issued to BT, HSBC and Matsushita for the acquisition is 39.7 million, or approximately 2% of the fully diluted market capitalisation of BSkyB.
By 10:00am today, shares in BSkyB had fallen 2.3%, or 18p on yesterday’s closing price.
Media Jobs
Hello. We have downloaded cookies on your device. Some of these cookies are essential for the website to function. Others are non-essential and are used for analytics and advertising.
We need your consent for these types of cookies.
To withdraw your consent or change your cookie choices, please do this through your browser settings.
Otherwise, click OK to accept and continue.
