By John McCarthy

BSkyB has been struck a blow after its first bid for Sky Deutchland was rejected, on the grounds that the offer allegedly undervalued the company.

The German firm’s board has said that the offer of £5.35bn was too low, and as a result, has been rejected by the majority of the board.

The British firm, which is 39.1 per cent owned by Rupert Murdoch’s 21st Century Fox, was planning to create a unified European broadcaster after merging with Sky Deutchland and Sky Italia in a deal worth £6.7bn.

BskyB attempted to buy shares in the German pay-TV giant from Murdoch’s 21st Read full story ›

Source: The Drum