Comcast (NASDAQ:CMCSA) fell after the company announced a bid for Sky, a UK-based pay-TV company. Historically, Comcast has gener-ally focused on local US markets where it has scale advantages, so the bid for Sky raised questions about a possible shift in Comcast’s business strategy. On the other hand, the company is, potentially, a major beneficiary of the new tax law in the United States.
From First Eagle Global Value Fund's first quarter 2018 shareholder letter.
