UK regulators have given the go-ahead for a bidding war between 21st Century Fox and US cable giant Comcast for the purchase of Sky. Culture secretary Matt Hancock said he would not stand in the way of Comcast's bid, and would approve Fox’s bid on the condition it parts with Sky News. Fox has been attempting to buy the 61% share of Sky it does not already own since 2016, while Comcast joined the race in February this year, offering £29.5 ($22bn) to Fox’s £18.5bn.
UK regulators have given the go-ahead for a bidding war between 21st Century Fox and US cable giant Comcast for the purchase of Sky. Culture secretary Matt Hancock said he would not stand in the way of Comcast's bid, and would approve Fox’s bid on the condition it parts with Sky News. Fox has been attempting to buy the 61% share of Sky it does not already own since 2016, while Comcast joined the race in February this year, offering £22bn ($29.5) to Fox’s £18.5bn.