Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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 Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Play Henderson's Lofthouse on merger boost and political risk

Henderson's Lofthouse on merger boost and political risk

Ben Lofthouse talks through where he is finding income and what surprises await the global economy in the new year.

Read More
Your Business: Cover Star Club

Profile: 'a lot of the hard work is done' says Charles Stanley

Profile: 'a lot of the hard work is done' says Charles Stanley

We’ve turned a corner, and there is positive momentum behind Charles Stanley says Charles Stanley's private client head

Wealth Manager on Twitter