Lucky men! City assessors receive 580 million pounds sterling in Sky acquisition fees, while the bidding battle approaches its climax

High rotation: Sky TV's hits include Stan Lee's Lucky Man, starring James Nesbitt and Thekla Reuten.

Lucky men! City assessors receive 580 million pounds sterling in Sky acquisition fees, while the bidding battle approaches its climax

Jamie Nimmo for the mail on Sunday

City advisers are in the line of £ 580million in the acquisition of Sky, as the £ 26bn bid battle is nearing its climax.

Rupert Murdoch's 21st Century Fox advisors will be paid as much as £ 242 million for their work in the deal for the pay-TV giant, whose successes include Stan Lee's Lucky Man, starring James Nesbitt.

Fox has a 39 percent stake and wants to buy the part of Sky that he does not have yet.

High rotation: Sky TV's hits include Stan Lee's Lucky Man, starring James Nesbitt and Thekla Reuten.

High rotation: Sky TV's hits include Stan Lee's Lucky Man, starring James Nesbitt and Thekla Reuten.

The sums were revealed in Fox's offer document when he officially presented his offer of £ 24.5 billion. Fox faces competition from Comcast, which has submitted an offer of £ 26 billion. The Murdoch camp has until September 22 if it wants to match or triumph over the Comcast offer.

Comcast, owner of the NBC channel in the United States and Universal Studios, revealed in its offer document that it will pay £ 243 million to its advisers.

Sky has accumulated an invoice of £ 96 million, receiving bankers, lawyers, public relations advisors and accountants.

It means that City businesses will save up to £ 581 million among them from the transatlantic bidding war.

Most of Fox's £ 172 million fees are the charges for arranging the finances that will go to lenders such as Goldman Sachs, Deutsche Bank and JP Morgan.

Another 38.4 million advisory fees will go to Goldmans, Deutsche and the US investment bank Centerview Partners.

Fox's offer document revealed technical changes in his offer, so he now only needs 50 percent of the votes of the shareholders to approve the agreement. Previously I needed 75 percent.

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