New Delhi, June 29 -- Shares of Comcast Corp surged 17% on Monday, 29 June, to a seven-week high of $27.10 on the Nasdaq after the company announced plans to separate its media and connectivity businesses by spinning off NBCUniversal and Sky into a separately listed public company.

The proposed spin-off will leave Comcast as a standalone telecommunications company focused on broadband and wireless services. The announcement comes at a time when Comcast's shares have struggled to regain momentum.

The separation is expected to allow both businesses to pursue distinct strategic priorities as the telecommunications and entertainment industries continue to diverge. The new media company will include NBCUniversal's theme parks business, Unive...