Comcast buys 29.1 percent of Sky stock in market purchases

LONDON (Reuters) – Comcast <CMCSA.O>, the victor in the auction for Sky <SKYB.L> on Saturday, said on Tuesday 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 <FOXA.O>. Fox holds a 39 percent stake in Sky, which it is selling to Walt Disney <DIS.N> 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.

(Reporting by Paul Sandle, editing by Louise Heavens)

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