September 23, 2018 / 3:15 AM / 4 months ago

Fox plans to concede defeat in Sky battle, review stake: source

The flag of the Twenty-First Century Fox Inc is seen waving at the company headquarters in the Manhattan borough in New York June 11, 2015. REUTERS/Eduardo Munoz/Files

LONDON (Reuters) - Rupert Murdoch’s Twenty-First Century Fox expects Sky’s independent directors to recommend Comcast’s $39 billion bid, after which Fox will concede defeat in the battle for the British broadcaster, a source with knowledge of the matter told Reuters.

Fox will also review options for its 39 percent stake in Sky after Comcast outbid Murdoch’s group with a 17.28 pounds a share offer for the pay-television group, the source said.

Reporting by Ben Martin, Editing by Paul Sandle

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