21st Century Fox has boosted its offer for Sky to £24.5bn in the wake of Comcast’s rival £22bn bid.
The latest offer is up significantly on Fox’s original £18bn bid and shows the company is firmly committed to acquiring the 61% of Sky it doesn’t already own.
Ministers have attached conditions to any Fox takeover, including the sale and guaranteeing of the long term future of Sky News.
Analyst Paolo Pescatore said today’s offer was “a clear statement of intent and underlines the strategic importance of owning Sky to both companies.
“There’s no way that Disney, nor 21st Century Fox want to let Sky go to Comcast. Therefore expect another round of counter bids.
“The price is heading in one direction. It’s a great time to be a Sky shareholder.“