Digital TV
Sky shares soar on News Corp bid talk
Friday, March 12 2010, 13:47 GMT
By Andrew Laughlin, Technology Reporter
The satellite broadcaster's share price climbed by 4.9% to 597.5 pence, before dropping back to 583.5 pence as of noon.
According to the Financial Times, traders are speculating that News Corp is plotting a bid of 735 pence per share for the 60% stake in Sky that it does not already own.
Sam Wright, a trader at Spreadex, said: "We're seeing interest in the media sector and have seen reports of a possible interest of Murdoch in Sky."
However, Sky and News Corp declined to comment on the speculation.
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