The 21st Century Fox logo is displayed on the side of a building in midtown Manhattan in NY, U.S., February 27, 2018.
The skirmish for control of Sky is being fought in the shadow of an even bigger battle - a struggle for control of prized entertainment assets owned by Fox, including its stake in Sky. Sky's shares closed at £15.01 on Tuesday, suggesting shareholders think the battle is not over.
Britain's former Culture Minister Matt Hancock, who was replaced Monday night with Jeremy Wright in a cabinet shakeup, had said he was willing to let the takeover go ahead, provided Fox sold Sky's 24-hour news channel to Disney. Since then, Variety reports that Disney has ramped up its efforts, countering with an unprecedented $71.3 billion deal.
"They're way behind the curve still", said Crispin Odey, founder of Odey Asset Management LLP, which owns shares of Sky.
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