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Japan's Softbank to Acquire 23% of U.K. Gambling Site Betfair

Authored by Mark Hefflinger on February 28, 2006 - 9:37am.
London - According to a report in the Financial Times, SoftbankCorp., a Japan-based Internet investment company, has agreed to acquire as much as 23% of Sporting Exchange Ltd., the U.K.-based online gambling group that controls Betfair. Although financial terms were not disclosed, the Financial Times said Softbank would pay about $22.80 a share. Sporting Exchange said it would likely release details for the deal, which should be completed by April 3, within the next few days.
tags: Gambling | Japan | Softbank | Betfair | 23%% | Acquire | U.K | Gambling Site |