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Sky's shares jumped to their highest level in 18 years on Thursday as investors bet on the dispute over the European cable group that will continue after Comcast's $ 34 billion bid exceeded the offer made by Rupert Murdoch a few hours earlier.
Comcast, the world's largest entertainment group, announced Wednesday that it had the support of Sky's independent directors for an offer of £ 14.75 per share, only 16 hours after Twenty-First Century Fox offered The speed with which Brian Roberts of Comcast made the counter-proposal shows how he is determined to buy the British Sky, which broadcasts sports, movies and TV shows to 23 million homes in Europe. Sky shares climbed to 15.41 pounds on Thursday, valuing the company at 26.4 billion pounds ($ 35 billion), investors betting that competitors should pay more for
Sky shares rose 95% since Fox made his first bid in 2016, and increased by 55% in 2017.
The battle is part of a bigger battle led in entertainment, as the growth of the Netflix and Amazon are forcing the geos traditional media to spend tens of billions of dollars to keep pace.
Comcast and Walt Disney led another $ 70 billion battle to buy most of Fox's badets, including Sky, and Disney supports Murdoch in his quest for British society. Murdoch owns 39% of Sky, which he helped to found.
Deadlock puts the biggest names in the industry against each other, with Roberts, the Murdoch family and Disney's Bob Iger involved in a multi-billion dollar chess game . to reshape the global entertainment industry.
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