Rupert Murdoch. (Photo by Evan Agostini/Invision/AP, File)
LONDON - US cable company Comcast submitted a £22billion (R378,46bn) offer for pay-TV group Sky yesterday, challenging an already agreed but lower takeover bid from Rupert Murdoch’s Fox.

Comcast, which first outlined an offer at the same £12.50-a-share price in February, said it would continue to engage with the Sky’s independent directors with a view to obtaining a recommendation for its deal.

Twenty-First Century Fox, which owns 39percent of Sky, said it remained committed to its recommended cash offer for Sky announced on December 15, 2016, and was currently considering its options.

Fox’s £10.75-a-share deal has been held up to scrutiny by regulators, who have concerns about the influence Murdoch could wield through owning all of the broadcaster as well as his British newspapers.

 - Reuters