26th Sep 2018 15:24
LONDON (Alliance News) - Twenty-First Century Fox Inc said on Wednesday it intends to sell its 39.1% stake in UK pay-TV operator Sky PLC to US cable company Comcast Corp following its successful bid for the FTSE 100-listed firm.
Fox will sell the 672.8 million shares it owns in Sky to Comcast, which are valued by the winning bid price of 1,728.00 pence at GBP11.62 billion.
Earlier on Wednesday, Comcast increased its stake in Sky to 36.95%, following its purchase of another 135.8 million shares at a price of GBP17.28 per share.
Comcast, on Tuesday, said it had purchased 30% of Sky, making its offer for the company mandatory.
Comcast now owns a total of 635.4 million shares in the FTSE 100 UK pay-television company.
Shares in Sky were up 0.1% at 1,728.00 pence on Wednesday.
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