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Sky Deutschland management not recommending to accept BSkyB offer

Reuters - UK Focus

FRANKFURT, Sept 17 (Reuters) - Management of German TV-provider Sky Deutschland (Other OTC: SKDTY - news) said on Wednesday it could not recommend its minority shareholders to accept the offer made by Britain's BSkyB.

BSkyB in July agreed to pay $9 billion to buy Rupert Murdoch's pay-TV companies in Germany and Italy, taking its hunt for growth into Europe by creating a media powerhouse with 20 million customers.

"The Management Board and the Supervisory Board believe that the consideration offered by the bidder does not reflect the full potential and thus intrinsic value of Sky Deutschland's business," Sky Deutschland said in a statement.

Sky Deutschland is controlled by Rupert Murdoch's entertainment group 21st Century Fox. (Reporting by Harro ten Wolde; Editing by Kirsti Knolle)