Comcast raises bid for Sky to $34 billion, tops Fox’s offer

LONDON (Reuters) – Comcast Corp (CMCSA.O) on Wednesday raised its all-cash offer for Britain’s Sky (SKYB.L) to $34 billion, topping a raised bid of $32.5 billion for the pay-TV group from Rupert Murdoch’s Twenty-First Century Fox (FOXA.O).

Fox, which has been trying to buy the pan-European group since December 2016, offered to pay 14 pounds per share, a 12 percent premium to Comcast’s earlier offer.

Comcast on Wednesday increased its cash offer to 14.75 pounds per share. Sky shares closed at 15.15 pounds.

Comcast said its cash offer has been recommended by Sky’s independent…

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