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Sky shares jump nearly 25% as Fox consider a £10.75 per share offer for full control


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Old 09-12-2016, 17:01
David_Flett1
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This looks certain to go through as the last time Fox made a bid was at the time of the hacking scandal and were only prepared to pay £8.75. Sterling has dropped 15-20% making it very attractive and the shares have been under performing for sometime around 750-800. With the break up of cable in the US media and telecom companies are trying to regain control with AT &T subject to regulation taking control of Time Warner and Disney rumoured to make a bid for Netflix early next year.
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Old 09-12-2016, 17:15
David_Flett1
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I think we need to consolidate this thread as we now have three on the same subject
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Old 09-12-2016, 17:26
aurichie
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Great news for those of us who are investors and customers too.
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Old 09-12-2016, 17:30
Daveww
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Doesn't mr Murdock own fox ? Anyway
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Old 09-12-2016, 17:35
mlt11
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Shares opened today at £7.895 - after the announcement the price rose to almost £10.50 but has subsequently fallen back a bit to close the day at £10.00.

Suggests the market believes there is a fair chance the deal won't go through - given that the offer is £10.75.
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Old 09-12-2016, 17:39
Tiwttmos
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I'll never forgive myself for selling my shares at the height of the phone tapping scandal. I'm never trusting a financial advisor again. Especially one on tv
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Old 09-12-2016, 17:43
aurichie
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I'll never forgive myself for selling my shares at the height of the phone tapping scandal. I'm never trusting a financial advisor again. Especially one on tv
If a financial advisor told me to sell shares in a great company like Sky I would have laughed and told them their services were no longer required.
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Old 09-12-2016, 17:52
mlt11
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Just looking at the share price chart - the all-time high was of course during the dot-com bubble in the year 2000 when the shares went from around £5 to over £21 in the space of a year.

But by February 2001 they had fallen back below £10 and never went above £10 again until 2015.

Since February 2001 the all-time high was £11.40 on 31 July 2015.

So this offer of £10.75 is pretty near the all-time high - if we exclude the short period of the dot-com bubble.
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Old 09-12-2016, 19:09
David_Flett1
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If a financial advisor told me to sell shares in a great company like Sky I would have laughed and told them their services were no longer required.
So last year when the city was nervous about SKY and most financial advisers including my pension comapny advised to sell at 1040 you would have told me to stick when over the year they fell to 730 and have averaaged around 780 for sometime.

Your opinion is absolutely worthless, you are the most biased poster on DS regarding SKY, sorry you may be vying for first place with Ash who believes the BBC can do no wrong.
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Old 09-12-2016, 19:12
mlt11
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Ed Miliband calling for referral of bid to Competition and Markets Authority or OFCOM.

Impossible to know with any confidence what will happen - might get referred and might not. If referred, it might still go through and it might not.

I suspect it's likely to drag on for some time - as the previous bid did even before the phone hacking scandal brought it to an end.

Also - if it ultimately does go through - there is a possibility that £10.75 might not be the final price.

One other point worth noting - offer appears to be 100% cash.

https://twitter.com/Ed_Miliband?ref_...Ctwgr%5Eauthor
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