Germany’s KirchTV has announced the sale of its remaining 3.1% stake in BSkyB. The news that the operator of the Premiere World pay-tv platform in Germany and Austria has agreed to sell all of its remaining 58 million Sky shares sent prices in the satellite broadcaster plummeting.
Kirch acquired a 4.3% stake in BSkyB earlier this year after Sky bought a 24% stake in Kirch’s operations (see BSkyB/Kirch Deal Receives Clearance). The German group sold off part of its shares in June and has now placed the rest with Credit Suisse First Boston and Goldman Sachs.
BSkyB: 020 7705 3000
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