Rupert Murdoch’s 21st Century Fox has been given the Government’s all-clear to take over Sky but faces a battle to see off rival suitor Comcast after it upped its bid.
Newly appointed Culture Secretary Jeremy Wright said he agreed with his predecessor’s final decision to accept Fox’s planned sale of Sky News to Disney should it succeed in buying Sky – a move clearing the final regulatory hurdle for Fox.
But it comes after the takeover saga stepped up a gear as Comcast increased its offer for Sky to £26 billion, just hours after Fox hiked its bid to £24.5 billion.
All eyes will now turn to Fox to see if it will increase its offer for the 61% of Sky that it does not already own.
In a written statement, Mr Wright said: “The publication of the undertakings marks the final stage of the public interest consideration of this case.”
He added: “It is now a matter for the Sky shareholders to decide whether to accept 21 Century Fox’s bid.”
- Press Association