Walt Disney’s (US: DIS) quest to buy 21st Century Fox (US: FOX) is facing a battle on multiple fronts. On the one hand, US anti-trust authorities are notoriously tetchy when it comes to mega-mergers, particularly where television content is concerned, and it is unlikely Disney’s proposal will get past the regulators unscathed.
IC TIP:
Buy
at
$102
Then there is the creeping competition from Comcast, which has confirmed that it is in the advanced stages of preparing an all-cash offer for Fox that would trump that made by Disney. The group – which has also pledged to buy Sky (SKY) for £22bn – has held talks with US banks to secure the financing needed to top Disney's $52.4bn bid.
