Betfair advises shareholders to take no action

Betfair has responded to rumours that it is the focus of a takeover bid by CVC Capital Partners saying there can be no certainty that an offer will be made or as to the terms on which any offer might be made and is advising its shareholders to sit tight and not take any action and present.

Gerald Corbett, Chairman of Betfair, said:  “With our new team now in place and the announcement of a more focused strategy in December, I believe Betfair is currently going through one of the most exciting phases in its development.

Our management team is actively implementing the new business plan for the company and we remain fully committed to delivering on the new strategy and providing improved returns for our shareholders.”

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