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Comcast outbids Fox in a $39 billion takeover of Sky

Comcast outbid Fox by $3.6 billion in a three-round auction process.

Comcast offered £17.28 per share, while the price offered by Fox was £15.67 per share.

The result follows an elongated bidding battle between two of America’s largest media companies over coveted overseas competitor Sky. (CNBC)