Bidding war for Sky to be settled by rare auction - Takeover Panel

The bidding war for Sky plc, the owner of Sky News, is to be settled by a rare auction process this weekend.The development was announced by the Takeover Panel, which presides over City rules governing bids for UK firms, as the clock ticks down to its deadline for American suitors 21st Century Fox and Comcast to make final offers for the UK-based home and mobile entertainment and communications company.Comcast has previously offered £14.75 per share, valuing Sky at almost £26bn.