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Hedge funds buy up Sky shares in support of Fox bid

Monday 13 February 2017 | 10:03 CET | News
US hedge funds have built stakes in Sky on hopes 21st Century Fox's takeover bid for pay-TV operator proves successful, the Telegraph reports. In recent days HBK, a fund based in Texas, and Pentwater Capital, of Illinois, have revealed they have built positions worth around GBP 310 million and GBP 300 million respectively based on Sky's closing share price of GBP 10 on 10 February. Sky shares are still trading below the offer of GBP 10.75 per share made in December by Fox, amid fears the deal could be blocked by regulators. The last attempt by the Murdoch media to buy full control of Sky was

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Categories: Broadcast & Satellite / Internet
Companies: 21st Century Fox / Sky
Countries: United Kingdom
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