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Comcast buys 29.1 percent of European pay TV group shares in market


Devdiscourse News Desk India
Updated: 25-09-2018 12:31 IST
Comcast buys 29.1 percent of European pay TV group shares in market

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 ($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.

COUNTRY : India

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