Major investment managers and hedge funds have been busy building up their stake in media giant Sky ahead of a crunch deadline approaching this weekend.
US based Elliott Advisors said it had raised its stake to 4.3 per cent. Hedge fund Odey Asset Management has also loaded up on shares, while another US fund Baupost has built itself up to a 4.8 per cent stake.
Shares in the firm have doubled over the last two years as the takeover saga has dragged on, and have risen 54 per cent since the start of January.
Comcast is currently ahead of 21st Century Fox's £24.5bn offer with a bid worth £26bn. Both firms have until Saturday afternoon to revise their bids for Sky, which is looking an unlikely possibility.
The contest will be brought to a close if they table "full and final" offers or if one side pulls out of the race for the assets.
If no clear winner is decided by this deadline, the contest could head to a "sealed bids" auction overseen by the Takeover Panel, where neither side can see what the other is bidding. Terms for this process are currently being discussed by Comcast, Fox and the Takeover Panel.
Crispin Odey, who's fund is a top 20 investor, previously said Sky is worth far more than either firm is offering for it, with his valuation topping £50bn.