Apr 25, 2018
Comcast piles pressure on Fox with Sky bid
The Comcast bid, which was unveiled on Wednesday morning, values Sky at £22bn and gives its shareholders two competing offers - with the latest at a significant premium to a rival proposal from Mr Murdoch's 21st Century Fox group. It puts pressure on Fox to raise its own offer of £10.75 a share - a move analysts believe is likely, given that the company is hoping to include its Sky stake in a collection of assets it is selling to Walt Disney. "The outcome for Sky is dependent upon any response by Disney now that Comcast have firmed their offer," Macquarie analysts wrote in a note. Any improved offer by Fox for Sky is likely to be made after discussion between Fox and Disney, given that a successful Comcast acquisition of Sky would have a significant bearing on Disney's own plans for the Fox assets. Disney has indicated that owning Sky was an important factor in its bid for the Fox assets.
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