Twenty-First Century Fox replaces Bank of America in Sky lending syndicate

FAN Editor
FILE PHOTO: The Twenty-First Century Fox Studios flag flies over the company building in Los Angeles
FILE PHOTO: The Twenty-First Century Fox Studios flag flies over the company building in Los Angeles, California U.S. on November 6, 2017. REUTERS/Lucy Nicholson/File Photo

March 23, 2018

LONDON (Reuters) – Rupert Murdoch’s Twenty-First Century Fox <FOXA.O> has changed the group of banks lined up to help finance its proposed takeover of European pay-TV company Sky <SKYB.L>, replacing Bank of America <BAC.N> with Citibank.

The company said on Friday it requested the change because Merrill Lynch, part of Bank of America, is an advisor to U.S. cable company Comcast <CMCSA.O>, which has gatecrashed Fox’s agreed offer for Sky with a rival $31 billion bid.

(Reporting by Sarah Young; editing by Kate Holton)

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