Sky shares leap as Comcast and Fox lock horns in bid battle


LONDON (Reuters) – Sky (SKYB.L) shares leapt to an 18-year high on Thursday as investors bet a transatlantic battle for the European pay-TV group had further to run, after Comcast’s $34 billion(25.73 billion pounds) bid trumped an offer from Rupert Murdoch made just hours earlier.

Comcast (CMCSA.O), the world’s biggest entertainment group, said on Wednesday it had the backing of Sky’s independent directors for a 14.75 pounds-per-share offer that came just 16 hours after Murdoch’s 21st Century Fox (FOXA.O) bid 14 pounds.

The speed with which Comcast’s Brian Roberts counterbid…



Read More Here

Be the first to comment on "Sky shares leap as Comcast and Fox lock horns in bid battle"

Leave a comment

Your email address will not be published.


*