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Is Sky the first FTSE-100 name headlining a deal Sunday?

By Chris Bailey of Financial Orbit | Sunday 23 September 2018


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


So we wake to Sky (SKY) having a new owner, as media behemoth Comcast beat another media behemoth Fox (in effective combination with Disney) in a blind auction for Europe's biggest satellite TV operator.  Boy did it pay up though.  Comcast won with a final bid of £17.28 a share, versus a Fox bid of £15.67 a share for the 61% of Sky it did not already own.  So if you own Sky shares...well done.  As I own Disney shares, I feel more relief that it did not massively overpay (Disney is already buying a bunch of assets from 21st Century Fox and is in the throes of launching its own streaming channel to compete with Amazon and Netflix, so it has enough on its plate). 

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