US cable giant Comcast formalised its £22 billion takeover bid for pan-European satellite TV group Sky, outbidding Rupert Murdoch's 21st Century Fox, whose lower offer has hit UK antitrust hurdles
Comcast had already in February tabled an informal bid worth £22 billion ($30.7 billion or 25.1 billion euros).
“We are delighted to be formalising our offer for Sky today,” Comcast chairman and chief executive Brian L. Roberts said in a statement to the London Stock Exchange.
“Comcast’s superior cash offer values each Sky share at £12.50 — a significant premium to the 21st Century Fox offer price,” he added.
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