By Jonathan Davies
BSkyB shareholders have given the green light to plans for the company to buy Sky Italia and Sky Deutschland to create 'Sky Europe'.
The deal was announced in July but was still subject to shareholder and regulatory approval.
BSkyB will buy Sky Italia and Sky Deutschland from Rupert Murdoch's 21st Century Fox, which holds a 39% stake in BSkyB. Because it holds a stake in BSkyB, Fox did not get a vote. But 96% of the shareholders voted in favour of the move.
21st Century Fox currently owns 100% of Sky Italia and BSkyB will pay £2.45bn for it.
The deal for Sky Deutchsland is slightly more complicated. Fox only owns 57.4% of the Sky Deutschland. BSkyB is set to pay £2.9bn for Fox's stake, and the majority will be enough to press ahead with the merger. BSkyB plans to offer a similar amount of money to the minority shareholders so it can wholly own both Sky Italia and Sky Deutschland. But they aren't convinced. The minority shareholders believe the offer isn't enough and plan to continue their investments.
You can tweet your reactions to @freshbusiness or email email@example.com
Join us on