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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.

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Crispin Odey
Crispin Odey
132/154 in Equity - Europe (Performance over 3 years) Average Total Return: 8.84%
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