BSkyB Buys Telefonica U.K. Broadband Unit for $303 Million

British Sky Broadcasting Group Plc, the U.K.’s biggest pay-television company, agreed to buy Telefonica SA’s broadband and fixed-line phone division in the country for as much as 200 million pounds ($303 million).

The deal will make BSkyB the second-biggest provider of broadband Internet connections in the U.K., according to a statement today from the Isleworth, England-based company. BSkyB will pay 180 million pounds and potentially a further 20 million pounds, depending on successful customer migration.