Comcast Buys 29.1 Percent of Sky Stock in Market Purchases

September 25, 2018 Updated: September 25, 2018

LONDONComcast, the victor in the auction for Sky on Sept. 22, said on Sept. 25 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.

By Paul Sandle