Comcast Increases Sky Stake to 36.95% After Winning Bidding War
September 26 2018 - 2:46AM
Dow Jones News
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)
Copyright (c) 2018 Dow Jones & Company, Inc.
Comcast (NASDAQ:CMCSA)
Historical Stock Chart
From Apr 2024 to May 2024
Comcast (NASDAQ:CMCSA)
Historical Stock Chart
From May 2023 to May 2024