UK regulator sticks to £14 per share for Sky from Disney


(Stock picture)
(Stock picture)

Britain’s Takeover Panel said on Thursday it had confirmed its ruling that Walt Disney might have to offer at least £14 a share to buy UK pay-television group Sky.

Disney would only be forced to make such an offer if it completes a deal to buy Twenty-First Century Fox’s TV and film assets, which include a 39pc stake in Sky, before either Fox or rival suitor Comcast succeed in taking control of the British broadcaster.

The price is designed to reflect the level of the offer Disney is making for Fox, and its holding in Sky.

The regulator had set the level of a possible mandatory Disney offer for Sky at £14 a share on July 13.

But it has had to hold a series of hearings since then to review the level after a number of groups appealed the decision.

Reuters

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