Daily News Archive
Daily News Subscription
$720m Pay-Day To Betfair Investors
Bourse Sauce 3: Investors in on-line betting exchange Betfair (a partner in Australia with James Packer's PBL) "are in line for a pay-out of around £300 million (A$720m)," reported The Sydney Morning Herald. Betfair "is fast emerging as 1 of Britain's most successful new companies" & the "return to shareholders comes after the unlisted company close a deal with Softbank, the Japanese internet group which has bought a 23% stake in the company for £355 million (A$850m)"; that "values Betfair (which was launched 6 ears ago) at £1.54 billion (A$3.7bn)".