Latest twist in Sky saga as Comcast hunts Fox
Just when you thought the bid situation around pay-TV firm Sky (SKY) could not get any more complicated, US media conglomerate Comcast has launched a $65bn rival bid to Disney for Rupert Murdoch’s 21st Century Fox.
Fox currently owns 39% of Sky and was looking to acquire the remaining 61% stake for £10.75 per share when Disney agreed a takeover of its media assets.
Comcast then launched its own higher offer for Sky at £12.50. Both deals were recently given the regulatory green light.
Disney is now under pressure to improve its $52.4bn offer for Fox.
Against this confusing backdrop, Sky shares continue to hover around the £13.50 mark.