Sky's stock price has risen 8.5% after Comcast's $ 40 billion auction

A great day for Comcast is getting even better for Sky shareholders.

US cable giant outbid 21st Century Fox (FOX) and his powerful support, Disney (DIS), Saturday in an auction for the control of the European pay-TV channel.

Comcast & # 39; s (CMCSA) The final bid was £ 17.28 ($ 22.65), valuing Sky at £ 30.6 billion ($ 40.1 billion). This was up from its previous bid of £ 14.75 and Sky's closing price on Friday.

The title advanced quickly Monday to catch up, gaining more than 8.5% to £ 17.22 ($ 22.58) early in the session in London.

Comcast gave Sky shareholders until October 11 to accept the offer. The independent Sky committee unanimously recommended Comcast's offer.

Fox is now considering what to do with the 39% of Sky that she owns and that she has agreed to sell to Disney with her entertainment assets under an agreement approved by both parties in July. .

Fox said that he "would make a new announcement in due course".

"Sky is a remarkable story and we are proud to have played such an important role in creating the incredible value reflected in Comcast's offering," he said.

Sky and its 23 million subscribers are attractive assets for US media companies wishing to expand their business in Europe and strengthen their defense against an assault of Netflix (NFLX) and Amazon (AMZN).

It also offers original programming and quality sports content, such as Premier League football.

Comcast Chief Executive Brian Roberts called the auction "a great day for Comcast" in a statement released on Saturday.

"This acquisition will enable us to rapidly, efficiently and significantly increase our client base and expand internationally," he said.

"We could not be more excited about the opportunities that come our way and we are now encouraging Sky's shareholders to accept our offer, which we look forward to before the end of October 2018."

Comcast makes a big bet. Its bid is well over twice the price of Sky's shares before the last round of redemptions in December 2016.

– Mark Thompson contributed to the story.

CNNMoney (London) First published on September 24, 2018: 3:39 AM ET