NEW YORK: Comcast Corp withdrew on Wednesday its unsolicited US$48.4bil offer to buy Walt Disney Co after the entertainment conglomerate steadfastly refused to open negotiations.
Shares in Comcast, the largest US cable TV firm, rose slightly after the decision, which came amid pressure from wary shareholders and drew praise from analysts and investors. But it left unanswered where the fast-growing company might look to expand next, or whether the failed bid might hamper its growth plans.