Formula One Owner May Bid For BetfairPrivate Equity Group Reportedly Eyeing Up Online Gaming Company |
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Online bookmaker and betting exchange Betfair may be in the sights of Formula One owner CVC Capital Partners.
Reuters has reported that the private equity firm is in the early stages of preparing a bid for the company which went public in 2010.
However a Sky News report said the company had not yet made an approach to Betfair and finance had yet to be secured for any potential deal. While the Sunday Times said an investment bank had been hired to help organize the bid.
On Friday Betfair had a market capitalization of £720 million with its share price at just over half of its launch level.
Earlier this month Betfair itself was in acquisition mode snapping up £5 million worth of assets, including customers, from Blue Sq.
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