Chris Hughes, Columnist

Tune In for an Auction at Sky

The intervention by the owner of NBCUniversal is ambitious and credible.

February 27, 2018 at 11:15 AM UTC

Chris Hughes is a Bloomberg Opinion columnist covering deals. Previously, he worked for Reuters Breakingviews, the Financial Times and the Independent newspaper.

Sky Plc Headquarters As 21st Century Fox Inc. Said To Stick With Initial Price In Takeover Offer — Photographer: Simon Dawson/Bloomberg

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Investors are betting that an auction for Sky Plc is about to get started. The odds are in their favor.

On Tuesday, U.S. media group Comcast Corp. proposed a 22.1 billion-pound ($31 billion) takeover of the U.K. satellite broadcaster, worth 12.50 pounds a share. That roundly beat the 10.75 pounds-a-share offer from media baron Rupert Murdoch's Twenty-First Century Fox Inc. that Sky accepted 14 months ago.