Comcast has won the long-running battle for control of Sky after beating Fox with a £30bn bid for the broadcaster.

In a dramatic end to one of the City’s most complex and convoluted takeover sagas in recent memory, Comcast won out in a day-long auction overseen by Britain’s Takeover Panel on Saturday.

Comcast’s bid was £17.28 per share, beating 21st Century Fox’s £15.67 per share, after the auction went to the maximum three rounds.