Comcast, Fox to settle $35-bn takeover battle for Sky in weekend auction

Auctions are rare in settling a bidding war for a large public company

British regulators said Comcast Corp and 21st Century Fox Inc will settle their takeover battle for Sky PLC via an auction starting Friday, setting up a dramatic climax to a 21-month sale process that has pitted some of the world's biggest media and entertainment giants against each other.   

The UK Takeover Panel said Thursday the auction would consist of a maximum three rounds of bidding, starting Friday and ending Saturday. The winning offer would be announced Saturday, the British regulator said. Offers won't be made public until the auction is concluded. The final round -- if to comes to that