21st Century Fox Raises Sky Offer to $32.5B, Comcast Expected to Counter

The battle between Comcast (CMCSA) and 21st Century Fox (FOXA) to purchase Sky, a British media and telecommunications company, intensified Wednesday when Fox raised its offer to $32.5 billion.

Currently, Fox owns 39% of Sky, and the offer would be for the remaining 61%. There are expectations that Comcast, who made a $31 billion offer back in April, will counter Fox’s bid, especially amidst its bidding war against Disney (DIS) for Fox’s assets.

The UK government is expected to issue a final ruling on Fox’s offer for Sky today.

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