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Betfair going Japanese
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Japanese technology company Softbank is to acquire a 23 per cent stake in betting exchange operator Betfair.
The deal, which will make Softbank Betfair’s largest single shareholder, is estimated to value Betfair at around £1.5bn.
Betfair’s chair, Tim Bunting, said: “Softbank is the ideal strategic partner for our ambitious expansion plans.
It has a successful track record in a number of related areas and we are looking forward to working together.”
Founded in 1981, the Tokyo-based Softbank is an expert in broadband technology and e-commerce. Details: www.betfaircorporate.com
Japanese technology company Softbank is to acquire a 23 per cent stake in betting exchange operator Betfair.
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