Comcast buys 29.1pc of Sky stock in market purchases

LONDON, Sept 25 — Comcast, the victor in the auction for Sky on Saturday, said today it had bought 29.1 per cent of the European pay-TV group's shares in the market.

Comcast bid £17.28 pounds a share for Sky, beating a £15.67 offer from Rupert Murdoch's Twenty-First Century Fox . Fox holds a 39 per cent 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 per cent of the stock plus one share to complete its takeover. — Reuters