Amstrad investors' thumbs up to Sky deal

The £125 million takeover of Sir Alan Sugar's set-top box business will go ahead after receiving the thumbs up from Amstrad shareholders.

BSkyB's offer has been declared fully unconditional after it received support from Amstrad investors representing 89.49 per cent of the group's shares.

The move comes after the Office of Fair Trading cleared the deal at the end of last month after it ruled the takeover would not breach competition guidelines.

Brentwood-based Amstrad generates around three-quarters of its revenue from the sale of set-top boxes to BSkyB, which has worked closely with Amstrad over many years.

Sir Alan, star of BBC show The Apprentice, stands to make £35 million from the deal, but will stay on with the company under the new owner, according to BSkyB.

The broadcaster, which is 39.1 per cent owned by Rupert Murdoch's News Corporation, will benefit from increased cost savings and greater product control as a result of the transaction.

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