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Sky Shares Soar With Bidding War

4 months ago1 views

wochit

Wochit

LONDON (Reuters) - Shares in Sky (SKYB.L) jumped higher on Thursday after Comcast (CMCSA.O) 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 (FOXA.O) had raised its bid to 14 pounds a share.

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