Disney’s Sky bid ruling

DISNEY has been told its planned takeover of 21st Century Fox means it must also make a full bid for Sky.

The US entertainment giant is pursuing a £39bn purchase of Fox, including its 39pc stake in Sky.

But the UK Takeover Panel says Disney must also make an offer to buy the remaining 61pc of Sky if Disney’s takeover of Fox goes through. Fox wants to buy the rest of Sky for £ 11.7bn but has been delayed by regulatory concerns about editorial output, which could see its bid blocked.

So, if Fox is taken over by Disney before acquiring Sky, then Disney must pay 1075p for each Sky share.