Elliott bumps up Sky stake to 3.3%

Activist investor Elliott Management Corp has upped its stake in broadcaster Sky to 3.3%, just days after taking a 3.1% stake in the company as it became the subject of a possible bidding war between 21st Century Fox and Comcast.

Comcast Corp.

$42.88

10:05 15/11/24

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Sky

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1.50p

Elliott, which nabbed its initial Sky stake last Thursday, upped its interest on Monday through derivative contracts.

Last Wednesday, Comcast confirmed its proposed £22bn all-cash offer for Sky. This represents a 16% premium to the £10.75 a share Fox bid and prompted Sky to withdraw its recommendation for the Fox bid in favour of Comcast.

At 1605 BST, Sky shares were up 0.1% to 1,374p.