Sky's shares jump 9 percent after Comcast wins auction

Sky's shares jump 9 percent after Comcast wins auction

Shares in Sky jumped 9 percent to 17.22 pounds in early trade on Monday, just below the 17.28 pounds a share Comcast bid on Saturday to beat Twenty-First Century Fox in the battle for Europe's biggest pay-TV group.

Sky Sports
Sky Sports logos at the company's UK headquarters in West London. (REUTERS/Toby Melville/File Photo)

LONDON: Shares in Sky jumped 9 percent to 17.22 pounds in early trade on Monday, just below the 17.28 pounds a share Comcast bid on Saturday to beat Twenty-First Century Fox in the battle for Europe's biggest pay-TV group.

The U.S. cable-TV giant offered US$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 is set to acquire in a separate deal.

(Reporting by Paul Sandle; Editing by Emelia Sithole-Matarise)

Source: Reuters

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