Betfair float postponed again

Not that Betfair will admit it, but the Racing Post today is reporting that Betfair have shelved plans to float this summer as world markets sink back into volatility, particularly over the Greek economic crisis.

Betfair put off flotation due to volatile market

By JonLees 7:24AM 18 MAY 2010

BETFAIR is understood to have postponed plans for a £1.5billion flotation onthe stock exchange this summer as a result of uncertainty in the world markets.

The volatility in the sector, which endured another roller-coaster period last week, is believed to have led the betting exchange's advisers to counsel against a stock market flotation or IPO (initial public offering) which had been tipped to happen in July.

In the past six months the company completed a string of high-level recruitments to prepare for a flotation which had been tipped for July.

It would have marked the summit of a spectacular rise by the company, which in the course of less than ten years has become the largest online sports betting operation in Europe, with a reach that also extends into Australia and the United States.

Could be a while yet then...

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