BRIEF-Comcast Offers To Buy Sky For $31 Bln

Feb 27 (Reuters) - Comcast Corp:

* SUPERIOR CASH PROPOSAL FOR SKY BY COMCAST

* SUPERIOR CASH PROPOSAL FOR SKY BY COMCAST

* POSSIBLE ALL-CASH OFFER OF £12.50 PER SHARE, PREMIUM OF 16% TO CURRENT 21CF OFFER

* MINIMUM ACCEPTANCE CONDITION OF 50 PER CENT. PLUS ONE SHARE

* SUPERIOR CASH PROPOSAL IMPLIES A VALUE OF APPROXIMATELY £22.1 BILLION FOR FULLY DILUTED ORDINARY SHARE CAPITAL OF SKY

* A PREMIUM OF ABOUT 16% TO CURRENT TWENTY-FIRST CENTURY FOX OFFER PRICE OF £10.75 FOR EACH SKY SHARE WHICH 21CF AND ITS AFFILIATES DO NOT ALREADY OWN

* DEAL TO BE ACCRETIVE TO COMCAST'S FREE CASH FLOW PER SHARE IN YEAR ONE

* CASH CONSIDERATION UNDER DEAL TO BE FINANCED THROUGH A COMBINATION OF COMCAST'S EXISTING FINANCIAL RESOURCES AND NEW THIRD PARTY DEBT Source text for Eikon: Further company coverage: