Factbox - How the auction process for Sky will work [Reuters (UK)]
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Source: Reuters
Factbox - How the auction process for Sky will work | Reuters 3 Min Read LONDON (Reuters) - A nearly two-year battle to take over UK-based broadcaster Sky ( SKYB.L ) could finally be settled in a quick auction this weekend, Britain’s Takeover Panel said on Thursday. Rupert Murdoch’s Twenty-First Century Fox ( FOXA.O ), which already owns 39 percent of Sky, and rival Comcast CMSCA.O are locked in a contest for control of the European pay-TV operator in a deal worth at least 25.9 billion pounds ($34.3 billion). Comcast currently has the upper hand in the bidding war after it made a 14.75 pound a share offer for Sky in July, which trumped an earlier 14 pound a share bid by Fox. Sky’s independent directors are currently recommending Comcast’s higher offer to shareholders. If neither bidder has admitted defeat by 1600 GMT on Friday, Sept. 21, then an auction will kick off. Below are the details of how the auction will be conducted. * The auction begins at 1600 GMT on Friday, Sept. 21.
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