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

LONDON (Reuters) – Britain’s takeover regulator said on Friday that a review had confirmed its ruling that Walt Disney (DIS.N) might have to offer at least 14 pounds a share to buy UK pay-television group Sky (SKYB.L).

FILE PHOTO: A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid

Disney would only be forced to make such an offer if it completes a deal to buy Twenty-First Century Fox’s (FOXA.O) TV and film assets, which include a 39 percent stake in Sky, before either Fox or rival suitor Comcast (CMCSA.O) 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

Our Standards:The Thomson Reuters Trust Principles.

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