Sky expects to pay advisers on Fox deal up to $123.7 million in fees

Sky expects to pay advisers on Fox deal up to $123.7 million in fees

LONDON (Reuters) - Sky said on Monday that it expected to pay its advisers between 90 million pounds and 97 million pounds ($123.7 million) if Twenty-First Century Fox succeeds with its takeover of the British broadcaster.

The UK pay-television group will spend as much as 61.5 million pounds on financial and broking advice and up to 20 million pounds on lawyers for their work on the Fox bid, according to a circular published by Sky. Other costs include fees for accountancy and public relations advice.

Fox, which already owns 39 percent of Sky, is battling U.S. cable giant Comcast for control of the broadcaster. Comcast is currently in the lead after Sky's independent directors last month recommended its 14.75 pound a share offer, which trumped Fox's 14 pound a share bid.

($1 = 0.7841 pounds)

(Reporting by Ben Martin. Editing by Jane Merriman)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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Updated Date: Aug 21, 2018 00:05 AM

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