You are here: Home » Reuters » News
Business Standard

Sky shares leap as Comcast and Fox lock horns in bid battle

Reuters  |  LONDON 

By Kate Holton and Maiya KeidanLONDON (Reuters) - Sky shares leapt to an 18-year high on Thursday as investors bet a transatlantic battle for the European pay-TV group had further to run, after Comcast's $34 billion bid trumped an offer from Rupert Murdoch made just hours earlier.Comcast, the world's biggest entertainment group, said on Wednesday it had the backing of Sky's independent directors for a 14.75 pounds-per-share offer that came just 16 hours after Murdoch's 21st Century Fox bid 14 pounds. The speed with which Comcast's Brian Roberts counterbid shows how determined he is to buy ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, July 12 2018. 20:34 IST