Rupert Murdoch's News Corporation acquired a 14.58 per cent stake in German Pay-TV broadcaster Premiere AG, making it the company's biggest single shareholder.
News Corporation paid $422.4 million, or $25.76 per share, above Premiere’s stock price, which shot up 24 per cent on Monday to $23.25.
The stake was held in trust by Pictet & Cie on behalf of Unitymedia, which acquired a 16.7 per cent stake in Premiere last year as part of a joint marketing deal for German football’s Bundesliga. Unitymedia had been expected to sell the stake by 2009. The move has fuelled speculation of a possible takeover.
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