Comcast’s $40 billion acquisition of Sky sends Sky’s share shooting up

With Comcast’s bid winning the auction, a rare event, the U.S. Cable-TV giant now enjoys the spoils of owning Europe’s biggest pay-TV group.

Early trade on Monday saw shares of Sky jump by 9% to 17.22, slightly below the 17.28 pounds offer from Comcast’s winning bid, which enabled it to win over Twenty-First Century Fox in the battle for Europe’s biggest pay-TV group.

In a rare auction, the U.S. cable-TV giant offered a staggering $40 billion to acquire the group bringing an end to a long protracted takeover battle.

Incidentally, Rupert Murdoch’s 21st Century Fox said, it has yet to decide what it will do with its 39% stake in Sky, which by the way is set to be acquired by Walt Disney Co in a separate deal.

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