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Share price slump forces Betfair to initiate £50m buy-back

29th June 2011 7:56 am GMT

With the company’s shares losing nearly half of their value since its IPO last October, Betfair Group plc has announced that it intends to commence a share buy-back programme to make market purchases of up to £50m of its shares over the next twelve months.  

Betfair was listed on the London Stock Exchange in October 2010 at a price of 1300.00 pence per share, valuing the company at approximately £1.39bn, with approximately 15.2 per cent of [...]

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