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British pensions body warns on any Fox/Sky deal
December 13, 2016 / 11:58 AM / a year ago

British pensions body warns on any Fox/Sky deal

LONDON, Dec 13 (Reuters) - A body representing British public sector pension plans on Tuesday called for an “appropriate” premium in any potential deal between 21st Century Fox and Sky as well as for safeguards to protect minority shareholders.

“All directors of Sky have a duty not to disadvantage the public shareholders, and the position of the non-executives will need to be robust to ensure that the premium paid is appropriate and that shareholders are not disadvantaged by any temporary low in the share price,” said Kieran Quinn, chairman of Britain’s Local Authority Pension Fund Forum (LAPFF).

The LAPFF represents 71 public sector pension funds managing 175 billion pounds ($222.29 billion) in assets.

$1 = 0.7873 pounds Reporting by Simon Jessop; editing by Jason Neely

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