Comcast confirms it’s preparing bid for Fox assets

U.S. largest pay TV operator Comcast confirmed on Wednesday that is preparing a cash offer for the 21st Century Fox assets that Disney has proposed to acquire.
The U.S. giant said that “no final decision has been made” and that “the work to finance the all-cash offer and make the key regulatory filings is well advanced”. Earlier this month, several local media reported that Comcast was asking investment banks to increase a bridge financing facility by as much as USD 60 billion so it can make the bid.
In a statement, the operator said, “The structure and terms of any offer by Comcast, including with respect to both the spin-off of ‘New Fox’ and the regulatory risk provisions and the related termination fee, would be at least as favorable to Fox shareholders as the Disney offer.”
Sources close to Comcast told The Wall Street Journal that the operator is likely to wait until the judge decides on the AT & T-Time Warner merger before making a formal offer. According to the U.S. media sources, Comcast made the announcement on Wednesday about its intentions because executives were worried that Fox and Disney might rush a shareholder vote the judge’s decision on the AT&T-Time Warner deal came down. A decision in the AT&T case is expected by June 12.