Sky's controlling shareholder 21st Century Fox said to be mulling takeover bid
Sky plc’s [LON:SKY] controlling shareholder 21st Century Fox [NASDAQ:FOX] is said to be thinking about launching a bid for the 61% stake in the satellite broadcaster that it does not already own, The Daily Telegraph reported.
The newspaper’s market report section did not cite a source for the speculation.
New York City-based 21st Century Fox currently owns a 39% shareholding in Sky, which is based in the UK. The article went on to note that some City analysts were skeptical of the rumour, noting that the speculation is not new.
Sky shares closed 34p up at 853p in London yesterday, 29 June, giving the company a market capitalisation of GBP 14.66bn (EUR 17.70bn).
The report appeared on page seven of The Daily Telegraph’s Business section on Thursday, 30 June
Source The Daily Telegraph