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Sky: rockets after Comcast's higher bid

(CercleFinance.com) - The Sky stock is soaring 21.
3% in London today, in demand after Comcast announced that it is making a bid of £12.50 per share for the television group, meaning a total valuation of 22 billion pounds (or 31 billion dollars).

The US cable operator - and parent company of NBCUniversal - has said the price it is offering to take over the British group, represents a premium of 16% over that currently offered by 21st Century Fox.

"A combination would bring attractive financial benefits to Comcast shareholders, and is expected to be accretive to Comcast's free cash flow per share in year one," Comcast said, which underlines Sky's 23 million customers and its strong positions in the UK, Germany and Italy.

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