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Sky shares rally after Comcast and Fox go head-to-head in bid battle

Reuters  |  LONDON 

LONDON (Reuters) - Shares in Sky jumped higher on Thursday after Comcast submitted a $34 billion bid for the group just hours after Rupert Murdoch raised his offer, escalating a trans-Atlantic bidding war for the European pan-TV group. Comcast, the world's biggest entertainment group, said it had secured 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 had offered 14 pounds. The speed with which Comcast's Brian Roberts returned with a higher offer was designed to show how determined he is to buy the group ...

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First Published: Thu, July 12 2018. 13:38 IST