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Fox to sell Sky assets to raise Time Warner bid - report

Monday 21 July 2014 | 10:08 CET | News
21st Century Fox may agree soon the sale of its Italian and German pay-TV assets in order to raise its takeover offer for Time Warner, two people familiar with the matter told Bloomberg. An agreement to sell its wholly-owned Sky Italia unit and its 57 percent stake in Sky Deutschland to British Sky Broadcasting (BSkyB) could be reached in the next two weeks, the reports said. The assets are valued at around EUR 10 billion. Fox already owns a 39 percent stake in BSkyB. The proceeds could give Fox additional cash for a Time Warner bid without having to borrow more. Time Warner earlier rejected

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Categories: Broadcast & Satellite
Companies: 21st Century Fox / British Sky Broadcasting / BSkyB / Sky Deutschland / Sky Italia / Time Warner
Countries: Germany / Italy / United Kingdom / World
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