CVC holds Betfair takeover talks

<p>CVC could launch a takeover of Betfair.</p>

Betfair's share price rocketed today (April 15th) after it was confirmed CVC has held preliminary talks over a takeover of the company.

A statement from CVC confirmed Richard Koch, Antony Ball and partners have held discussions over a potential bid for Betfair.

Stocks in the company rose in value by more than ten per cent on the back of the news and at 16:00 BST they were recorded at 770.50, a rise of 71 points on the start of the day.

The statement from CVC stressed that its interest in Betfair should not be taken as "an announcement of a firm intention to make an offer".

It was added: "There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made."

Betfair was the biggest riser on the FTSE 100 today as a result of the news of a potential takeover of the firm by CVC.

Other big movers on the index today include GlaxoSmithKline, which rose in value by almost four per cent, while easyJet was up by 3.4 per cent.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.