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UK regulator confirms Disney must offer at least 14 pounds/share for Sky

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By Reuters
UK regulator confirms Disney must offer at least 14 pounds/share for Sky
The Sky News logo is seen on the outside of offices and studios in west London, Britain June 29, 2017. REUTERS/Toby Melville   -   Copyright  Toby Melville(Reuters)

LONDON (Reuters) – Britain’s takeover regulator said on Friday that a review 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 have managed to take control of the British broadcaster.

The Takeover Panel set the level of a possible mandatory Disney offer for Sky at 14 pounds a share on July 13. But its hearings committee subsequently examined the decision on July 27 after the regulator said that “various interested parties affected by the ruling” had asked for a review.

(Reporting by Ben Martin; Editing by Susan Fenton)