Sky shares soar amid takeover interest from Comcast and Fox

Sky shares have surged after US media giant Comcast lined up a showdown with 21st Century Fox by mounting a £22.1bn takeover approach for the UK broadcaster.

The cable network powerhouse sent Sky rallying 20% higher on the London Stock Exchange after it muscled in on Rupert Murdoch's bid with a 16% higher offer of £12.50 per share.