Major BSkyB shareholder Sanjeev Shah believes the broadcaster, which has received a full takeover approach from News Corp, is one of a number of media companies displaying "a lot of unrecognised value".
Shah, manager of the £2.9bn Fidelity Special Situations fund, had 4% of the portfolio in the company at end April and has benefited by the broadcaster's 18% share price surge today. News Corp, which owns 39.1% of BSkyB, this morning announced it had made an initial 675p per share approach on June 10. This indicative offer was raised to 700p after discussion with BSkyB's independent directors. However, BSkyB said it might support a proposed takeover by the Rupert Murdoch-led group if it "would deliver value in excess" of 800p a share. Contrarian Shah says media remains one of his ke...
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