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(Reuters) - Comcast Corp CMCSA.O on Wednesday raised its offer for Britain's Sky SKYB.L in a deal valuing the pay-TV group at $34 billion, challenging a raised bid from Twenty-First Century Fox FOXA.O.

Comcast’s offer of 14.75 pounds per share was higher than the 14 pounds per share, or $32.5 billion, offered by Rupert Murdoch’s Fox earlier in the day.