Dec 21, 2017

Disney puts Sky shareholders on rollercoaster ride

Have any investors had as rollercoaster a year as Sky shareholders? After weeks of speculation, Walt Disney confirmed that it had agreed a $66bn deal for Fox's entertainment assets - including Fox's 39 per cent stake in Sky. This is because Disney has not committed to mounting a bid for the rest of the Sky shares in the event that Fox's Sky takeover is blocked. Disney is buying Fox's 39 per cent in Sky so it will cross that threshold. If the panel does not force Disney to bid for all the shares and the CMA and Ms Bradley block the Fox-Sky deal, do not rule out another buyer for Sky entering the fray.

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