October 4, 2018 / 6:40 AM / a month ago

Comcast secures over 75 percent of Sky shares

FILE PHOTO: The Sky logo is seen on outside of an entrance to offices and studios in west London, Britain June 29, 2017. REUTERS/Toby Melville/File Photo

LONDON (Reuters) - Comcast said it had secured over 75 percent of Sky’s shares, bringing it closer to finalising the $40 billion (31 billion pounds) takeover of the British pay TV group.

U.S. cable company Comcast has previously said it hoped the acquisition would complete by the end of October.

Last month, Comcast emerged triumphant in the long-running battle for Sky after it beat Rupert Murdoch’s Twenty-First Century Fox in an auction.

Comcast said in a regulatory filing on Thursday that by Oct. 9 when its acquisition of Twenty-First Century Fox’s 39 percent stake completes, it will hold or have received acceptances in respect of over 75 percent of Sky’s share capital.

The company said a further announcement will be made in due course.

Reporting by Sarah Young, Editing by Paul Sandle

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