Sky’s the limit?
The long-running saga over the ownership of Sky (SKY) has taken a not wholly unexpected turn after Comcast threatened to gatecrash the Murdoch family get-together by offering north of £22bn for Sky. The bid, which outguns the offer that has been on the table for months from Rupert Murdoch’s 21st Century Fox, is an all-cash affair which came in 16 per cent above 21st Century Fox’s offer, but sent speculators into the stock on the hope that a bidding war would push the final value of any deal higher still. The offer puts pressure on 21st Century Fox and Disney, which have contrived a deal whereby 21st Century will buy the 61 per cent of Sky it does not own then sell its entertainment division, including Sky, to Disney for $66bn. Click here to read more.
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