Sky shareholders may be unduly worried about a truce. Shares in the pay-TV group are down 2 percent since suitor Comcast last week said it wouldn’t challenge Walt Disney’s bid for most of Twenty-First Century Fox. Yet the Mickey Mouse owner could still prove a nuisance to Comcast in the battle for Sky, to investors’ gain. Sky’s falling share price suggests investors think that Comcast’s defeat will also defuse the battle for the UK group. After losing out to Disney’s $71 billion bid for Fox assets, including its 39 percent Sky stake, Comcast boss Brian Roberts said he’ll instead focus on buying

Comcast Chief Executive Brian Roberts is swallowing his ego a second time. The controlling owner of the U.S. cable firm decided not to top rival Walt Disney’s $71 billion bid for some assets of Rupert Murdoch’s Twenty-First Century Fox. He also backed down from an aggressive tilt at the Mouse House 14 years earlier. Given the eye-watering price Disney is paying, Roberts and his shareholders should come out the winners. Instead, Comcast will focus across the Atlantic and attempt to win a bidding fight with Fox for pay-TV outfit Sky, for which Roberts has so far bid around $34 billion.