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PRESS DIGEST - British business - Sept 12
By: Reuters: Company News
Posted on September 11, 2010 at 22:51 PM EDT
Online gambling group Betfair is expected to announce within the next two weeks a 1.5 billion pounds floatation which is likely to be one of the largest in Britain this year. The exact price of shares is yet to be determined, but Japanese technology investor Softbank paid 355 million pounds for a 23 percent stake in 2003, from which the estimated value of 1.5 billion pounds is derived. Founders Ed Wray and Andrew Black would be the largest beneficiaries of the float; they own a combined stake o
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