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Sunday, June 15, 2014

BSkyB picks banks for plan to unite European TV businesses, (NYSE: MS)

British satellite broadcaster BSkyB is being advised by Morgan Stanley and Barclays on plans to create a pan-European operator by acquiring its German and Italian sister companies, a source familiar with the matter said. BSkyB is looking to purchase Sky Deutschland and Sky Italia in a 10 billion euro deal that would realise long-held ambitions by media magnate Rupert Murdoch to combine his European TV assets.The potential tie-up would create a pan-European giant with 20 million subscribers.According to the source, both banks already act as advisers to the broadcaster and are being retained for the proposed transaction.The latest proposal would see BSkyB, 39 percent owned by 21st Century Fox, buy Sky Italia and Sky Deutschland, which are 100 percent and about 55 percent owned by Fox, respectively.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 0.44% or $-0.14/share to $31.59. In the past year, the shares have traded as low as $23.83 and as high as $33.52. On average, 11455400 shares of MS exchange hands on a given day and today's volume is recorded at 8022255.