Comcast buys 29.1 percent of Sky stock in market purchases

Comcast buys 29.1 percent of Sky stock in market purchases

Comcast , the victor in the auction for Sky on Saturday, said on Tuesday it had bought 29.1 percent of the European pay-TV group's shares in the market.

FILE PHOTO: The NBC and Comcast logos are displayed on 30 Rockefeller Plaza in midtown Manhattan in
FILE PHOTO: The NBC and Comcast logos are displayed on 30 Rockefeller Plaza in midtown Manhattan in New York, U.S., February 27, 2018. REUTERS/Lucas Jackson/File Photo

LONDON: Comcast , the victor in the auction for Sky on Saturday, said on Tuesday it had bought 29.1 percent of the European pay-TV group's shares in the market.

Comcast bid 17.28 pounds (US$22.66) a share for Sky, beating a 15.67 pound offer from Rupert Murdoch's Twenty-First Century Fox . Fox holds a 39 percent stake in Sky, which it is selling to Walt Disney as part of a separate deal.

Comcast said it was seeking to make further market purchases of Sky shares at a price of 17.28 per share.

It needs 50 percent of the stock plus one share to complete its takeover.

(Reporting by Paul Sandle, editing by Louise Heavens)

Source: Reuters

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