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Lowly rated Sky defies market challenges

Lowly rated Sky defies market challenges

Scepticism about the likely completion of Twenty First Century Fox’s £11.7bn takeover of Sky (SKY) is rising. The combination of a lengthy Competition and Markets Authority (CMA) investigation and scandalous stories emerging from the newsroom at Fox have sent Sky’s share price south of the 1,075p offer price. The shares traded at 790p before Fox made its bid in December 2016 and analysts expect a rejection of the deal to send the UK media group’s share price at least back down to this price. 

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