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Comcast secures over 75 percent of Sky shares

Posted by: Admin | Posted on: October 4th, 2018 | 0 Comments

LONDON (Reuters) – Comcast (CMCSA.O) said it had secured over 75 percent of Sky’s (SKYB.L) shares, bringing it closer to finalizing the $40 billion takeover of the British pay TV group.

U.S. cable company Comcast has previously said it hoped the acquisition would complete by the end of October.

Last month, Comcast emerged triumphant in the long-running battle for Sky after it beat Rupert Murdoch’s Twenty-First Century Fox (FOXA.O) in an auction.

Comcast said in a regulatory filing on Thursday that by Oct. 9 when its acquisition of Twenty-First Century Fox’s 39 percent stake completes, it will hold or have received acceptances in respect of over 75 percent of Sky’s share capital.

The company said a further announcement will be made in due course.

Reporting by Sarah Young, Editing by Paul Sandle

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/YGj2N9gvXYY/comcast-secures-over-75-percent-of-sky-shares-idUSKCN1ME0JT

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