The fight to the last billion between Comcast and 21st Century Fox for control of Sky continues unabated.
Following the relaunch of Fox, which Tuesday, July 11 increased its offer to £24,5 million – 14 pounds per share – Comcast has also decided to up the ante, responding blow for blow.
Overnight, the American giant put £14,75 per share on the plate, a figure that altogether corresponds to £26 billion (€29,4 billion, $34 billion). Comcast's previous offer was £12,5 a share, £22bn. The new proposal therefore exceeds by 5,4% the one advanced by the company owned by the Murdoch family and by 18% the previous offer that the US giant led by Brian Roberts had presented last April.
“Comcast – reads the note from the American group that announced the relaunch, equal to 5,3% – has long admired the Sky company, thinks it is an excellent company, and a great opportunity for Comcast itself. Today's announcement further underlines the company's willingness and commitment to buy Sky." Comcast "has committed available financing to meet the entire cash consideration payable to Sky shareholders under the terms of the acquisition."
We recall that the battle for the conquest of Sky does not involve only Comcast and Fox, but also Disney. What does Mickey have to do with it? It has to do with it because on the one hand the group led by Rupert Murdoch would like to achieve total control of satellite TV - it already holds 39% and wants to buy the remaining 61% of the capital - in order to create a pan-European giant capable of rivaling Amazon and Netflix, on the other hand, will sell part of its entertainment assets and Sky News to Disney to avoid the Antitrust ax. Too bad that these same assets are also coveted by Comcast which tries to play the third wheel in the negotiations between Fox and Disney. So the battle does not end here.
