Taconic Capital Advisors has acquired a 1.1814% stake in U.K. broadcasting company, British Sky Broadcasting Group (BSkyB), Reuters reports. The New York-based hedge fund has bought over 20.7 million BSkyB shares for an amount of $254.3 million.

Rupert Murdoch’s News Corporation is also seeking to buy the 61% of BSkyB it does not already own. His London-based Odey Asset Management has been a major shareholder through his funds, including the Odey Pan European fund.

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