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 WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Play Japan's slump, the umbrella revolution and the battle for Brazil

Japan's slump, the umbrella revolution and the battle for Brazil

With the arrows of Abenomics appearing to be missing their targets and political uncertainty rife in Hong Kong and Brazil we take a look at investor sentiment in this week's Investment Pulse

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter