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UK regulator sticks to 14 pounds a share floor for Sky from Disney

Published 08/16/2018, 02:30 AM
Updated 08/16/2018, 02:40 AM
© Reuters. FILE PHOTO - The entrance to Walt Disney studios is seen in Burbank

LONDON (Reuters) - Britain's Takeover Panel said on Thursday it had confirmed its ruling that Walt Disney might have to offer at least 14 pounds a share to buy UK pay-television group Sky.

Disney would only be forced to make such an offer if it completes a deal to buy Twenty-First Century Fox's TV and film assets, which include a 39 percent stake in Sky, before either Fox or rival suitor Comcast (NASDAQ:CMCSA) succeed in taking control of the British broadcaster.

The price is designed to reflect the level of the offer Disney is making for Fox, and its holding in Sky.

© Reuters. FILE PHOTO - The entrance to Walt Disney studios is seen in Burbank

The regulator had set the level of a possible mandatory Disney offer for Sky at 14 pounds a share on July 13. But it has had to hold a series of hearings since then to review the level after a number of groups appealed the decision.

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