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

Mail Online | 9/25/2018 | Camilla Canocchi for Thisismoney.co.uk
echolea (Posted by) Level 3
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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.

Comcast - Market - Purchases - Sky - Shares

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.

Comcast - Backing - Cent

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