19th Jul 2018 14:16
LONDON (Alliance News) - US cable company Comcast Corp on Thursday confirmed that it will focus on its recommended offer for Sky PLC instead of pursuing the acquisition of the Twenty-First Century Fox Inc assets.
Comcast fought with mass media company The Walt Disney Co to acquire Fox's movie studio and television assets. Disney had recently outbid Comcast's USD65 billion all-cash offer with a USD71 billion cash & stock offer.
"I'd like to congratulate Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company," said Comcast Chairman Brian Roberts.
Last week, Comcast increased its cash offer for Sky to 1,475 pence per share, taking the total value of the UK pay-TV operator to GBP26 billion. Earlier, Fox offered 1,400p for Sky, valuing the company at GBP24.5 billion.
Shares in Sky were trading 2.0% lower on Thursday at 1,500.00p each.
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