News Corp should pay up to Â£3bn (3.6bn) more than it has already offered to secure full control of pay-TV operator BSkyB according to an analyst at Nomura Bank.
Nomura raised its target price for SkyÂs hares from 700p to 1,000p, which would value Sky at Â£17.5bn. The bankÂs note to investors said that News CorpÂs offer was a Âstrong signalÂ that the company was now in a position to harvest its cash flow after years of deferring to make additional investment and secure subscriber growth.
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