Comcast makes higher offer for Sky, tops Fox bid

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July 11, 2018 5:56 PM EDT

FILE PHOTO: The Comcast NBC logo is shown on a building in Los Angeles, California, U.S. June 13, 2018. REUTERS/Mike Blake

(Reuters) - Comcast Corp (NASDAQ: CMCSA) on Wednesday raised its offer for Britain's Sky in a deal valuing the pay-TV group at $34 billion, challenging a raised bid from Twenty-First Century Fox (NASDAQ: FOXA).

Comcast's offer of 14.75 pounds per share was higher than the 14 pounds per share, or $32.5 billion, offered by Rupert Murdoch's Fox earlier in the day.

(Reporting by Sonam Rai and Arjun Panchadar in Bengaluru; Editing by Sriraj Kalluvila)


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