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Comcast secures over 75 percent of Sky shares

LONDON (Reuters) – Comcast (CMCSA.O) said it had secured over 75 percent of Sky’s (SKYB.L) shares, bringing it closer to finalizing the $40 billion takeover of the British pay TV group.

FILE PHOTO: The NBC and Comcast logos are displayed on 30 Rockefeller Plaza in midtown Manhattan in New York, U.S., February 27, 2018. REUTERS/Lucas Jackson/File Photo

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

FILE PHOTO: A British Sky Broadcasting Group (BSkyB) logo is seen at the company’s UK headquarters in west London July 25, 2014. REUTERS/Toby Melville/File Photo

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