LONDON (Reuters) – Shares in Sky (SKYB.L) jumped 9 percent to 17.22 pounds in early trade on Monday, just below the 17.28 pounds a share Comcast (CMCSA.O) bid on Saturday to beat Twenty-First Century Fox (FOXA.O) in the battle for Europe’s biggest pay-TV group.
FILE PHOTO: Sky Sports logos at the company’s UK headquarters in West London, July 25, 2014. REUTERS/Toby Melville/File Photo
The U.S. cable-TV giant offered $40 billion to buy the group in a rare auction that brought to an end a protracted takeover battle.
Rupert Murdoch’s Fox has not said what it will do with its 39 percent stake in Sky, a holding that Walt Disney Co (DIS.N) is set to acquire in a separate deal.
Reporting by Paul Sandle; Editing by Emelia Sithole-Matarise