Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Odey refuses to hand over Sky shares in takeover

Odey refuses to hand over Sky shares in takeover

Crispin Odey has reiterated his criticism of BSkyB’s approach for Sky Deutschland, saying that he will not sell his shares in the deal.

BSkyB is offering Sky Deutschland’s minority shareholders €6.75 (£5.35) for their shares, exactly the same as their current market price.

Odey (pictured), who owns approximately 8% of Sky Deutschland through his firm, rejected this as ‘effectively a nil premium takeover offer’ that ‘significantly understates the value of the company’.

He stated that ‘consequently Odey Asset Management does not intend to tender its shares in this proposed offer’.

Odey, who was once Rupert Murdoch’s son-in-law after marrying his eldest daughter Prudence - a marriage that lasted 15 months - first voiced his concerns about the proposed transaction in May.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play From Private Bank to Private Office: the next generation of ultra high net worth investors

From Private Bank to Private Office: the next generation of ultra high net worth investors

Citywire's Anna Dumas highlights the trend towards private and family offices.

Play Inside ETFs: how to defend against bond volatility

Inside ETFs: how to defend against bond volatility

In this latest episode we call in experts from 7IM and Markit to assess how the bond sell-off has impacted ETFs.

Play The future of wealth management according to disruptive tech expert Andrew Tarver

The future of wealth management according to disruptive tech expert Andrew Tarver

Three private office investors direct their questions about the future of wealth management, to Andrew Tarver, founder of Boldrocket and disruptive tech expert.

Your Business: Cover Star Club

Profile: Stenham's CIO on the strange persistence of hedge funds

Profile: Stenham's CIO on the strange persistence of hedge funds

Stenham Asset Management chief investment officer Kevin Arenson believes hedge funds are making a comeback

Wealth Manager on Twitter