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 On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

Eleanor Mahmoud goes clay shooting at the National Clay Shooting Centre with Sam Lansdowne from Thesis Asset Management

Play AA-rated Flood on gov't bonds: 'the maths doesn't add up'

AA-rated Flood on gov't bonds: 'the maths doesn't add up'

He also addresses why his Newton Multi-Asset Income fund has such a high cash weighting and why he sees renewables as such a good opportunity.

Play AAA-rated Ali: Identifying the peripheral European plays

AAA-rated Ali: Identifying the peripheral European plays

Citywire AAA-rated Tawhid Ali thinks that plenty of good stocks in the European periphery are being thrown out with the proverbial bath water.

Read More
Your Business: Cover Star Club

Profile: Brewin's Cardiff boss on the Welsh opportunity

Profile: Brewin's Cardiff boss on the Welsh opportunity

Prior to becoming head of Brewin Dolphin Cardiff, Welshman David Myrddin-Evans had only previously visited the city to watch the rugby.

Wealth Manager on Twitter