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Sky shareholders await bidding war

Sky shareholders await bidding war

How must it feel to own an asset that three of the biggest media companies in the world want to get their hands on? Sky’s (SKY) investors can answer that question. The group’s shares leapt by a fifth after US cable giant Comcast (US:CMCSA) waded into the takeover battle with a bid to trump that made by 21st Century Fox (US:FOXA). In fact, the prospect of a bidding war between the two US groups and Walt Disney (US:DIS) – which has made a separate bid for Fox’s media assets – sent Sky’s shares higher than the 1,250p cash offer from Comcast. 

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