LONDON (AP) — Comcast has emerged as the top bidder for European broadcaster Sky after a rare auction held by British regulators.

After three rounds of secret bidding on Friday and Saturday, Comcast offered the higher price of 17.28 pounds ($22.58) per share for Sky, the equivalent of nearly 30 billion pounds ($39 billion). Rival 21st Century Fox offered 15.67 ($20.47) per share.

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