Rupert Murdoch's News Corp is expected to increase its 19.9 per cent stake in German pay-television group Premiere.
According to German press reports, Murdoch is planning to up his stake to at least 23 per cent, but will stay below the 30 per cent mark, above which News Corp. would be required to make a buyout offer to remaining Premiere shareholders.
Premiere and News Corp. have declined comment, but the news boosted Premiere’s shares, which jumped 2.3 per cent to €13.7 by late Monday afternoon.
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