Share Prices & Company Research

Press Release

21 September 2018

Auction brings two-year battle for Sky to an end

Roy Kaitcer, Investment Manager at investment management and stockbroking firm Redmayne Bentley, said: “The Takeover Panel has finally taken decisive action to bring the ongoing battle for Sky to an end.

“Unless a winner emerges by 5pm today (Friday 21st September), the bidding war between 21st Century Fox and Comcast will be settled by a three-round auction.

“Sky’s independent directors are recommending Comcast’s higher offer of £14.75 a share to shareholders, in comparison with Fox’s current bid of £14 a share.

“However, Fox currently owns 39% of Sky and only needs to persuade another 12% of the board to vote in its favour, compared to the 51% Comcast will require.

“Since Fox made its first bid for Sky, it has agreed to sell a major part of the business – including its 39% share – to Walt Disney, which would then take full ownership of Sky once it has taken over Fox’s assets. On the other hand, a victory for Comcast would make it the biggest pay-TV provider in the world.

“To win this battle would be a boost to both Comcast and Disney as they undertake a wider battle against internet-based services such as Amazon and Netflix.”


Please note that this article is for information only and does not constitute a recommendation to buy or sell any of the stocks mentioned.
Auction brings two-year battle for Sky to an end
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.