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[$$] Battle erupts between Fox and Comcast for UK’s Sky

FT premium subscribers can click here to receive Due Diligence every day by email. One scoop to start: Tiger Global, the $22bn US investment manager, has taken a stake of more than $1bn in Japan’s SoftBank, saying it believes the stock is “meaningfully undervalued”. A long-simmering takeover battle for Sky, the European pay-TV group that reaches 23m customers across the continent, erupted in spectacular fashion on Wednesday.