Comcast has further raised its bid for Sky, increasing its bid to £14.75 per share, as the battle for the European broadcaster intensifies.
Later on Thursday, the UK’s new Secretary of State for Culture is expected to give official approval to 21st Century Fox to proceed in its own takeover bid that sparked the interest by the US cablenet.
On Wednesday, Fox increased its offer for Sky to £14 per share as it looks to buy the remainder of the company that it does not already own.
“Comcast has long admired Sky and believes it is an outstanding company and a great fit with Comcast. Today’s announcement further underscores Comcast’s belief and its commitment to owning Sky,” Comcast said in a statement.
Some analysts believe that Sky is being used as a proxy for the separate bid for Fox itself. The Murdoch company is under the attention of both Comcast and Disney, which currently holds the higher bid for the majority of Fox assets, including Sky and India’s Star.
It is Disney that will buy Sky News in a move that has effectively allowed UK clearance for the F0x-Sky bid by alleviating concerns over the hold of the Murdoch family on British Media.
