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Comcast unit to acquire Fox's 39.12% Sky stake, up Sky ownership to 75%

Comcast Corp. unit Comcast Bidco Ltd. on Oct. 3 agreed to acquire the about 39.12% of Sky PLC shares held by 21st Century Fox Inc. or its affiliates.

The transaction, which is expected to be completed Oct. 9, will bring Comcast's Sky ownership to about 75%.

The 39.12% stake represents 672,783,139 Sky shares, which Comcast is acquiring at £17.28 per share, according to an Oct. 4 statement.

The news follows Walt Disney Co.'s announcement that it will allow Fox to tender or sell its 39% stake in the British pay TV operator, after Disney and Fox lost in a bid to Comcast.