Comcast has made a $31bn offer for Sky, threatening the bid from 21st Century Fox for 61% of the company. The US cable TV giant has offered £12.50 ($17.21) per share, 16% higher than the Fox offer. The Competition & Markets Authority said Fox had failed to make its case in good faith. Sky’s shares jumped by more than 18% to above £13 in early trading. Comcast CEO Brian Roberts said Sky could be co-owned with Fox or Disney, which wants to buy the majority of Fox’s business, as long as Comcast had the majority stake.
Comcast has made a $31bn offer for Sky, threatening the bid from 21st Century Fox for 61% of the company. The US cable TV giant has offered £12.50 ($17.21) per share, 16% higher than the Fox offer. The Competition & Markets Authority said Fox had failed to make its case in good faith. Comcast CEO Brian Roberts said Sky could be co-owned with Fox or Disney, which wants to buy the majority of Fox’s business, as long as Comcast had the majority stake.