A second stakeholder saying it is also unhappy with the deal.
Chris Beauchamp, Market Analyst, IG,
“I think it’s the whole regulatory hurdle that will be the major issue here. There’s a lot of people who will look with disfavour upon this move. I think the question’s not just in terms of the competition between Sky and Fox News and their dominance in that sphere, but it’s just the fact that, again, you’ve got that move by a media mogul whose reputation, if you like, has been firmly established in many people’s minds. So I think a lot of regulators will be keen to run this one under the microscope as much as possible, slow it down as much as possible.”
Rupert Murdoch’s Fox offered 10 pounds and 75 pence a share in cash on Friday – in its second attempt to buy 61 percent of the business that it doesn’t own.
The deal would give Fox control of a pay-TV network spanning 22 million households in Britain, Ireland, Austria, Germany and Italy.
Sky’s independent directors back the latest offer.
But analysts at Citi bank have described it as a “low-ball bid”.
A Sky spokeswoman declining to comment.