"As the future owner, I have full confidence in Sotheby's management, and hence do not anticipate any change to the company's strategy. Management and their exceptional teams and talent around the world will continue to operate with my full support," said a statement issued by Drahi's office.

"This investment will further demonstrate the anchoring of my family in the United States, a country where we have been very welcome since the successful acquisitions of Suddenlink in 2015, Cablevision in 2016 and just recently Cheddar," he added.

(Reporting by Sudip Kar-Gupta, editing by Deepa Babington)