Comcast snaps-up nearly a third of Sky's shares on the open market

Mail Online | 9/25/2018 | Camilla Canocchi for
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Comcast, the US media giant which won a rare three-round auction for Sky over the weekend has bought 29 per cent of Sky's shares on the open market.

The US firm said it has purchased 499.6 million shares at £17.28 each, the price of its winning final bid in the auction in which it trumped 21st Century Fox’s offer of £15.67 a share.

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Comcast added that it is seeking to make more market purchases of Sky shares at the same price.

The price is 125 per cent higher than Sky’s share price of £7.69 in December 2016, when Fox first made an approach.

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Comcast needs the backing of 50 per cent of...
(Excerpt) Read more at: Mail Online
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