Commonwealth Bank of Australia (ASX:CBA) is part of a syndicate of nine banks underwriting a AU$1.8 billion loan to finance DAZN Group's acquisition of pay-television and streaming giant Foxtel from News Corp (ASX:NWS), Bloomberg News reported Thursday, citing unnamed people familiar with the matter.
The financing will support the deal that values Foxtel at AU$3.4 billion, the report said.
Citigroup and Societe Generale SA are also part of the syndicate, with the loan set to enter syndication in the coming weeks, the report added.
CBA did not immediately respond to a request for comment from MT Newswires.
News Corp's shares were up almost 1% in recent Thursday trade.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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