CMCSA Comcast Corporation

   By Adria Calatayud 
 

Comcast Corp. (CMCSA) said Wednesday that it has increased its stake in Sky PLC (SKY.LN) to 36.95%, after winning a bidding war for the British media group with a $38.8 billion offer over the weekend.

The U.S. cable giant said it has bought a further 135.9 million shares in Sky at 17.28 pounds ($22.72), the same price as its final bid in the auction for the pay-TV company that British regulators held between the cable company and 21st Century Fox Inc. (FOX), which was backed by Walt Disney Co. (DIS).

Comcast said it now holds 635.4 million Sky shares. On Tuesday, the cable company said its offer has been declared mandatory under U.K. takeover rules, after it bought more than 30% of Sky's share capital.

Comcast said it is seeking to make further market purchases of Sky shares at the same price.

Fox continues to hold a 39% interest in Sky, and said Sunday that it was considering options over its stake. News Corp (NWS), Dow Jones's parent company, and Fox have common ownership.

Read more about the Sky takeover at https://on.wsj.com/2JhQx1C (WSJ paywall) or https://bit.ly/2QFMMrS (NewsPlus).

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

September 26, 2018 02:31 ET (06:31 GMT)

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