Comcast Begins Compulsory Acquisition Procedure To Buy Remaining Sky Shares

(RTTNews) - Comcast Bidco Limited, an indirect wholly-owned subsidiary of Comcast Corp. (CMCSK, CMCSA), said that it will shortly despatch formal compulsory acquisition notices to Sky Shareholders who have not yet accepted the Mandatory Offer.

The notices will set out Comcast Bidco's intention to acquire compulsorily any remaining Sky Shares in respect of which the Mandatory Offer has not been accepted on the same terms as the Mandatory Offer.

On 9 October 2018, Comcast Bidco announced that its Mandatory Offer for Sky became wholly unconditional.

Comcast Bidco said today that as at 5.00 p.m. (London time) on 11 October 2018, it had received valid acceptances under the Mandatory Offer in respect of, and/or had otherwise acquired, 1.64 billion Sky Shares representing about 95.32% of the existing issued share capital of Sky.

On the expiry of six weeks from the date of the Compulsory Acquisition Notices the Sky Shares held by those Sky Shareholders who have not accepted the Mandatory Offer will be acquired compulsorily by Comcast Bidco on the same terms as the Mandatory Offer, Comcast said.