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Liberty Global in advanced talks to buy BSkyB's stake in ITV - Sky

(Reuters) - Liberty Global Plc (LBTYA.O) is in advanced talks to buy British Sky Broadcasting Group Plc's (BSY.L) remaining 7.2 percent stake in Britain's biggest commercial free-to-air broadcaster ITV Plc, Sky News reported late on Wednesday.

The deal is likely to be announced on Thursday, Sky said on its website, adding that there was a "slim possibility" that the stake would go to institutional investors if talks fell through. (http://bit.ly/1oYX0Ad)

ITV's London-listed shares closed at 183 pence on Wednesday, giving the company a market capitalisation of about 7.4 billion pounds ($12.68 billion), according to Thomson Reuters data.

Representatives of BSkyB, Liberty Global and ITV could not be reached for comment outside of regular business hours.

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Liberty Global has been expanding its presence in Britain, with the acquisition of cable company Virgin Media last year and a joint takeover with Discovery Communications of All3media in May.

(Reporting by Richa Naidu in Bangalore; Editing by Jan Paschal)