Comcast to stop buying Sky shares in the market

LONDON: Comcast, the victor in the $40 billion auction for Sky, said it had acquired 38 percent of the British pay-TV group’s shares and did not intend to make any further market purchases for now.

Comcast beat Rupert Murdoch’s Twenty-First Century Fox in a rare auction held last weekend. Fox said on Wednesday it would sell its 39 percent stake in Sky to Comcast in a move that helps the US group to complete the deal.