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Rupert Murdoch's Fox hikes Sky bid to $32.5 bn, all eyes on Comcast

The agreed price represents an 82% premium to Sky's shares in December 2016

Reuters  |  London 

Rupert Murdoch’s 21st Century Fox has raised its offer for Britain’s Sky in an agreed deal valuing the pay—TV group at $32.5 billion, seeing off rival bidder Comcast for now. Fox, which has been trying to buy the pan—European group since December 2016, offered to pay 14 pounds per share, a 12 per cent premium to Comcast’s offer, but below the 15.00 pounds Sky shares were trading at on Wednesday. Analysts said the bid threw down the gauntlet for Comcast, the world’s biggest entertainment company, to return with a higher ...

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First Published: Wed, July 11 2018. 22:30 IST