21st Dec 2016 15:39
LONDON (Alliance News) - European competition authorities may be formally notified of 21st Century Fox Inc's bid for the rest of Sky PLC in March at the earliest, Bloomberg reported Wednesday, citing a person familiar with the matter.
This would set off reviews from regulators as to whether the deal might harm competition. It would also trigger a window of ten working days in which the UK culture secretary Karen Bradley has to decide whether or not to refer the bid to UK telecoms regulator Ofcom.
Bradley is facing pressure to have Ofcom review the deal from a number of parties, including the Labour party and campaign groups, as well as public petitions.
Shares in Sky were up 0.4% at 988.50 pence Wednesday afternoon.
https://www.bloomberg.com/news/articles/2016-12-21/fox-s-sky-purchase-said-to-face-eu-review-in-march-at-earliest
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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