Comcast and Fox’s bidding war for Sky could be settled by rare quick-fire auction [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Open this photo in gallery A view of the Italian headquarters of Sky television in Milan, Italy. Luca Bruno/The Associated Press A protracted US$34-billion bidding war for European broadcaster Sky between U.S. rivals Comcast and Twenty-First Century Fox could be settled by a quick-fire auction on Saturday, U.K. regulators said on Thursday. Britain’s Takeover Panel said that it was prepared to take the rare step of intervening in the battle for Sky by running an auction that lasts for a maximum of three rounds. The process will start if neither Comcast nor Fox have admitted defeat in the fight for Sky by 1700 London time (1600 GMT) on Friday, the Panel said. Story continues below advertisement The auction will then take place on Saturday and will finish during the evening, when the regulator will announce the level of the bids submitted by the suitors. It would mark a dramatic resolution of Sky’s fate, w
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