July 9, 2018 / 6:25 PM / 14 days ago

Fox preparing to top Comcast offer for Sky - FT

(Reuters) - Twenty-First Century Fox Inc is preparing a new bid for Sky Plc that values it at about 25 billion pounds to top the offer it has received from Comcast Corp, the Financial Times reported on Monday.

FILE PHOTO: The 21st Century Fox logo is displayed on the side of a building in midtown Manhattan in New York, U.S., February 27, 2018. REUTERS/Lucas Jackson/File Photo

Fox’s offer is expected to be at a premium to Comcast’s most recent bid of 12.50 pounds per share, the Financial Times reported, citing two people briefed on the matter.

FILE PHOTO: The Sky logo is seen on outside of an entrance to offices and studios in west London, Britain June 29, 2017. REUTERS/Toby Melville/File Photo

The company could make the new offer as soon as this week if its earlier bid for Sky is formally approved by the UK government, according to the report.

Rupert Murdoch’s Fox had initially launched a 10.75 pound-a-share bid to buy all of Sky in December 2016.

Fox declined to comment.

Reporting by Arjun Panchadar in Bengaluru; Editing by Shounak Dasgupta

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