Comcast gets valid acceptances for less than one percent of Sky shares

Comcast gets valid acceptances for less than one percent of Sky shares

(Reuters) - Comcast Corp said it had received valid acceptances for shares representing just 0.21 percent of Sky Plc after its 14.75 pound per share offer to buy 61 percent of the European broadcaster.

Comcast also said the offer period was being extended and would remain open for acceptances until Sept. 12.

Comcast gatecrashed Fox's attempt to buy the 61 percent of Sky that it does not already own earlier this year and the U.S. cable giant's latest, higher offer, which it submitted in July, has been recommended to shareholders by the broadcaster's independent directors.

Under British takeover rules, Rupert Murdoch's Fox has until Sept. 22 to trump Comcast's offer for Sky.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Kirsten Donovan)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Aug 23, 2018 00:05 AM

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