Fox takes legal action to lower price of stake it may buy in betting firm FanDuel
Last modified on Wed 7 Apr 2021 13.33 EDT Rupert Murdoch’s Fox has launched legal action against Flutter, the London-listed parent of gambling brands including Paddy Power and Betfair, in a dispute over the value of the company’s stake in the US betting firm FanDuel. Flutter Entertainment, which merged its US business with FanDuel three years ago, raised its stake in the fast-growing sports betting firm in December in a move that gave the business a valuation of $11.2bn (£8.1bn). In its legal action, Fox, which has the option to buy an 18.6% stake in FanDuel in July, said it believes it ...
Source: theguardian.com