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News Corp should pay more for Sky, says analyst

News Corp should pay up to £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 Sky’s hares from 700p to 1,000p, which would value Sky at £17.5bn. The bank’s note to investors said that News Corp’s offer was a “strong signal” 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.