21ST CENTURY FOX RAISES TAKEOVER BID FOR SKY TO £24.5B

LONDON: Rupert Murdoch’s 21st Century Fox yesterday increased its takeover offer for Sky, valuing the pan-European TV group at £24.5 billion (RM130.8 billion) and trumping Comcast’s rival bid. 21st Century Fox’s improved approach is for the 61% of Sky it does not own. New York-listed 21CF raised its offer to £14 for each outstanding share, up substantially on a previous tilt that was pitched at £10.75. Following the announcement, Sky’s share price was down 1.4% at £14.81, though above the improved offer with analysts betting on an extension to the bidding war. – AFP