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https://www.cnbc.com/2018/09/26/fox-will-sell-sky-stake-to-comcast.html
are selling their 39% to Comcast, i knew they didnt really want SKY with their silly bids
I sold some at £17.24 yesterday thinking it would not rise but now being offered the full £17.28, no point me hanging on for another few weeks to save the £6 commission cost, or is there any chance someone else might come along and trump Comcast, its does say in the offer document that door is still open ? For once on the forum I have 'no opinion' and no clue.
Once a bidding war was formally announced, shareholders could only win.
Should have bought more! Never mind - well done everyone.
2nd attempt, my first reply disappeared.
I have sold but AIUI if you accept the offer and wait to be paid(by Comcast)you will get the full 1728p ie 4/5/6p more in about a month and as it is not a market sale you will incur no dealing costs which might be significant if you have a large holding/and or trade infrequently. or have an expensive broker. however as the SP is pretty close to the offer price I sold this am at 1724.
Can you clarify your comment on dealing costs about selling now versus holding on for two weeks before receiving payment. What cost exactly would one avoid - only broker commission or will one receive the full sale amount without any deductions whatsoever?
typo "1586 fri."
Hi Luddite, I'm in exactly the same boat as you , bought at 1576 fri am , will wait to see how close the SP is to the offer price this am . But as noted, you will only have to wait a few weeks to be paid and IIRC there are no dealing costs if you wait, so maybe worth it(depends how big your stake is) and how desperate you are to spend/reinvest it!!
Hi Luddite, its in the offer document. Money must be paid no later than 14days from the day the offer becomes "wholly unconditional" the latest day the offer can be declared "wholly unconditional" is 11th Oct so you should be paid at latest 25th Oct. But of course could be earlier if people accept quick enough.
I will set a limit order of around £17.20 to sell and hopefully bank a clear 8% profit for the weekend having bought at around £15.86 on Friday, if it does not trigger I can wait until the cash is paid as long as that is not too long after the October vote. Assuming Comcast win the October vote does anyone have any idea when the cash is likely to be paid ?
The discount to £17.28 should not be very much. The Board have given approval, Comcast want to complete by end of Oct, so the interest cost is currently around .3%, assuming an annual interest rate of 3%. The price should be just above £17.20, but there will surely some mischief making.
Comcast wins at £17-28 per share
£18.50 to £19.00 and I will shout Yipee
in the £20s
Many of the reported trades showing as sells this afternoon are actually buys, eg 3.02pm reported sell at £15.868889 £22.87k is a buy not a sell.
luddite well spotted.
UBS Have been building quickly and crossed another threshold on the 19th (2 days ago)
Now 9.02%, was it them that paid that much?
RNS does not say how much was paid.
exon , an interesting late reported trade just showing upnow two days late was a buy of £25.5 million at £17.63755 which appears not to be a UT, strange, I wonder what thats about and not far from your guess of £17.50.
Bought some more 1062 , price going up as punters place their bets £15.91 before the final spin of the wheel.
my guess, any one else?
1st round
Fox Disney. £16.00
Comcast £!4.75
2nd Round
Fox Disney. £16.00
Comcast £!6.75
3rd round
Fox Disney. £16.00
Comcast £!7.50
Just wished we had a UK White Night to save us from the Americans at the last minute. (the exchange rate is making life easy for them to pick up UK assets at the moment)
One of the hedge fund's opinion is £18 + would love to see that happen. The only downside is one of the bidders could pull out before the bidding starts today 5 pm but very unlikely
Sky with the recent clarification on how they will be incorporating Netflix and their involvements in gaming, football etc is very exciting business for both of them
For a place to park some money for two years instead of the bank this has been better than expected. I am having a final flutter today and bought at £15.86 and may buy another lot lbefore 4pm, whats the betting on what the take out price will be, I am hopeing for something over £17 by Monday ?
Whatever money has been paid into the scheme so far will be cashed in for shares at £6.88 and sold for final offer, the rest of the shares they were set to buy they will receive the difference between purchase price and final sale price, this will then be subject to tax and national insurance
Hey, just curious for those part of sky share save. How does the compensation payment work?
I have a friend who pays £25 a month for the 3 year scheme and joined in jan 2017. So would he get £25 x 36 = £900 / 6.88 (share option) x £16 (if that was the final offer)? - even though he hasn’t paid for full 3 years?
The Takeover Panel said that the auction would start at 17:00 London time on Friday and end on Saturday evening. It said all parties had agreed to the process, which will have a maximum of three rounds.
#Breaking The takeover of broadcaster Sky by either Fox or Comcast will be settled by an auction, the Takeover Panel has announced